The Toronto-based online-therapy startup founded by veteran Bay Street investor and entrepreneur Sam Duboc is targeting a $50-million raise by the sale of an undisclosed number of shares priced between $7 and $8 each. The offering will be led by TD Securities and Credit Suisse Securities. (The Globe and Mail)

Talking point: MindBeacon’s prospectus shows the company’s revenue in the nine months ended September 30 was $6.6 million, almost double what it was for the same period a year ago. Net loss in that timeframe increased by 25 per cent to $6.6 million, compared to $5.3 million in the first nine months of 2019. The company attributed those losses largely to an increase in administrative expenses related to the go-public endeavour. In a letter to investors, Duboc wrote that his “journey in mental health” began after the death of his brother in 2011, after which he experienced depression, and found the process of getting mental health treatment “challenging.” Duboc’s wife Claire is a principal shareholder in the company, with 21 per cent ownership; Green Shield Canada owns an 18 per cent share. MindBeacon’s clients include individual subscribers to the service, employers, government and channel partners like insurance companies and disability-management providers.