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Summary
- Toronto-based Lifespeak might soon go public on the Toronto Stock Exchange.
- LifeSpeak was established in 2004 and it offers digital mental health and wellbeing solutions to mid and enterprise-sized companies.
- Find out more about the company and its upcoming stock in this article.
Lifespeak, a Toronto-based digital platform for mental health and wellness, is likely to go public on the Toronto Stock Exchange (TSX) and trade under the ticker 'LSPK'. Initially, the company had not announced proceeds target. However, in an amended long-form prospectus filed with the regulatory authorities, Lifespeak declared that it aims to price its common shares between C$9 and $12 per unit.
The digital wellbeing platform is hoping to raise C$ 125 million in gross proceeds. Lifespeak's market cap will approximately reach C$ 465 million if the initial public offering goes as per the plan. According to reports, the underwriters for the offering are RBC Dominion Securities Inc, Canaccord Genuity Corp, and Scotia Capital Inc.
Lifespeak aims to use the gross proceeds to achieve long-term goals and pursue growth strategies. The company plans to develop its digital platform with new offerings and expand its client base across all provinces in Canada. The mental wellness firm reportedly aims to make strategic acquisitions in future and repay its outstanding debt of C$10 million.
6 things to know before Lifespeak IPO
- LifeSpeak was established in 2004 and it offers digital mental health and wellbeing solutions to the employees of mid and enterprise-sized companies.
- The digital health platform offers services through video, podcasts, and tailored articles. Presently, there are more than 2,300 video training sessions based on 13 different topic categories.
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- In its preliminary prospectus, Lifespeak declared that it serves the needs of 225 companies and its annual recurring revenue was C$21 million for the 12 months ended March 31, 2021.
- Lifespeak is a profitable company, and its net income grew to C$ 0.7 million for the period ended March 31, 2020. For the year ended December 31, 2020, the net income was C$ 0.1 million compared to a net loss of C$ 0.6 million in the same comparable period of the previous year.
- For the period ended March 31, 2021, Lifespeak recorded revenues of C$13 million and its gross profit was C$11.8 million.
- In September 2020, the company had raised C$ 42 million equity investment in an institutional round of financing.
How to buy Lifespeak (LSPK) stock?
Looking to invest in this stock? You will have to wait for Lifespeak’s final prospectus. There will be no sale of common shares until the company files the final prospectus with the regulatory body.
Before the common stock is up for offers, you can get in touch with a stockbroker if you are interested in this stock, or you can also opt for opening a brokerage account and buy the stock yourself.
The above constitutes a preliminary view and any interest in IPOs and stocks should be evaluated further from investment point of view.
