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LevelJump Healthcare Corp (OTCMKTS:JMPHF) Stock Soars: Here is Why

Madison Hall , , , ,

Canadian business to business telehealth solutions leader LevelJump Healthcare Corp (OTCMKTS:JMPHF) was in focus last Friday after it announced that it had been awarded an extension by the TSX Venture Exchange with regards to its non-brokered private placement.

Trading Data

On Friday, JMPHF stock ended flat at $0.0795 with 27K shares, compared to its average volume 783 shares. The stock moved within a range of $0.0795 – 0.0795 after opening trade at $0.0795.

LevelJump Announces Private Placement Extension

The private placement had been announced originally on March 24, 2023 but following the extension the final date of the offering was set for June 6, 2023. The company had announced previously that it was going to offer a total of 5000000 units in the offering for $1 each so as to generate gross proceeds to the tune of $5000000.

Each unit would be made up of a common share in LevelJump Healthcare for the issued price of $0.10 and a cumulative 8% redeemable convertible Class A Series 1 preferred share for the issue price of $0.90 each.

It should be noted that each preferred share would be of a non-voting nature and carry a cumulative annual dividend of 8%, which would be paid out on a quarterly basis. Additionally, there would also be a top up dividend of 25% of the company’s EBITDA beyond $2,000,000 a year. It remains to be seen if the latest development leads to any move on the stock or not.

Madison Hall

After graduating from the University of Buffalo, Madison gained a real interest in the markets. She tends to be a swing trader and enjoys Pilates and yoga in her downtime.