The Toronto-based digital wellness platform announced it has acquired Massachusetts-based Torchlight, a digital-first caregiver-support platform, for US$17.25 million in cash and roughly $1.6 million in LifeSpeak shares. (The Logic)
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The Toronto-based digital wellness platform announced it has acquired Massachusetts-based Torchlight, a digital-first caregiver-support platform, for US$17.25 million in cash and roughly $1.6 million in LifeSpeak shares. (The Logic)
Talking point: The company’s shares fell more than two per cent as of 2:30 p.m. ET. If certain milestones are met, LifeSpeak may pay nearly $7.7 million in additional shares. The acquisition is LifeSpeak’s biggest to date. In October, it paid $7 million in cash, with up to $5 million in a possible future payout, for ALAViDA, a virtual-care provider for people with substance-abuse issues. Earlier that week, it acquired Montreal-based Lift Digital, a virtual fitness-class platform, for $15 million. LifeSpeak, which went public on the Toronto Stock Exchange in July, recently filed a base shelf prospectus, allowing it and some of its security holders to qualify to distribute up to $450 million of securities over 25 months in an effort to give it financing flexibility.
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