LifeSpeak Inc. Completes Initial Public Offering and Secondary Offering of Common Shares

LifeSpeak Inc. (“LifeSpeak” or the “Company”) today announced the successful closing of its previously announced initial public offering and secondary offering (the “Offering”) of common shares of the Company (“Common Shares”, and each a “Common Share”). Pursuant to the Offering, LifeSpeak issued 9,000,000 Common Shares of the Company and certain selling shareholders (the “Selling Shareholders”) sold an aggregate of 3,500,000 Common Shares for an aggregate offering of 12,500,000 Common Shares of the Company at a price of $10.00 per Common Share for total gross proceeds of $125 million, with LifeSpeak and the Selling Shareholders receiving gross proceeds of $90 million and $35 million, respectively.

The Common Shares are listed for trading on the Toronto Stock Exchange under the symbol “LSPK”.

“Completing this IPO is an exciting milestone for LifeSpeak,” said Michael Held, President, Chief Executive Officer, Founder & Director of LifeSpeak. Nolan Bederman, Chairman of the Board of LifeSpeak stated “with the proceeds raised, we are in a strong position to continue our offering’s evolution and our growth in both current and future markets around the world.”

The Offering was made through a syndicate of underwriters led by RBC Capital Markets, Canaccord Genuity Corp. and Scotiabank, as joint bookrunners, and included CIBC Capital Markets, TD Securities Inc., Roth Canada, ULC, Desjardins Capital Markets and Stifel GMP.

The underwriters were granted an over-allotment option (the “Over-Allotment Option”) to purchase up to an additional 1,875,000 Common Shares from the Selling Shareholders, at a price of $10.00 per Common Share, for the purpose of covering the underwriters’ over-allocation position, if any and for market stabilization purposes. The Over-Allotment Option can be exercised, in whole or in part, at any time for a period of 30 days from the closing date.

The Offering was completed pursuant to the Company’s final prospectus dated June 28, 2021 (the “Prospectus”), and filed with the securities regulators in each of the provinces and territories of Canada, a copy of which is available under the Company’s profile on SEDAR at www.sedar.com.

No securities regulatory authority has either approved or disapproved the contents of this news release. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities of LifeSpeak in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and may not be offered, sold or delivered, directly or indirectly, in the United States (as defined in Regulation S under the U.S. Securities Act). Accordingly, the securities may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws.

About LifeSpeak

LifeSpeak is a leading software-as-a-service provider of digital mental health and total well-being education for mid- and enterprise-sized organizations committed to taking care of their employees and customers. With 17+ years of experience creating and curating thousands of expert-led micro-learning videos and other digital content, LifeSpeak’s proprietary library’s depth and breadth of easily consumable content helps companies around the world support their people anytime and anywhere. LifeSpeak serves a diverse global client base across many industries and sectors, including Fortune 500 companies, government agencies, insurance providers and other health technology firms. For more information, visit www.LifeSpeak.com.

Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable securities legislation, which reflects the Company’s current expectations regarding future events, including statements with regard to expected use of the net proceeds for the Offering and growth in current and future markets. Forward-looking information is based on a number of assumptions, many of which are beyond the Company’s control. Such risks and uncertainties include, but are not limited to, the factors discussed under “Risk Factors” in the Prospectus filed on SEDAR. Actual results could differ materially from those projected herein. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this news release is provided as of the date of this news release and LifeSpeak does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210706005436/en/

Michael McKenna
[email protected]
Chief Financial Officer & Secretary
LifeSpeak Inc.