Ketamine-Clinics Revitalist Raises Nearly $4M In Second Round Of Private Placement

There are two ways in which companies can raise funds: public offerings or direct sale of shares to investors, usually via private placements. 

Publicly traded company Revitalist Lifestyle And Wellness Ltd. RVLWF, owner of a network of ketamine assisted psychotherapy clinics, has just closed the second tranche of its private placement offering previously announced on April of this year.

The total gross proceeds raised: $3,944,000.

Revitalist CEO, Kathryn Walker said: “Revitalist has raised over $15.2 million since the company was formed which has allowed us to scale operations and make significant improvements to the mental health of patients across the nation.”

Following the convertible debenture financing offering, the company issued 3,944 convertible note units at a subscription price of $1,000 per unit, each composed of $1,000 in principal amount of unsecured convertible note of Revitalist and 3,500 detachable common share purchase warrants

As explained by the company's press release, each note matures in 36 months from the date of issuance and will accrue simple interest at 8% per annum, payable quarterly. Each note and any accrued but unpaid Interest thereon is convertible into common shares of the company at a conversion price of $0.15 at any time prior to the note’s maturity date. 

Alternately, each warrant will be exercisable at $0.20 per share at any time until 24 months from the date of issuance.

Revitalist has stated that the net proceeds of the transaction will be used for working capital purposes.

Posted In: Kathryn WalkerCannabisNewsPenny StocksPsychedelicsOfferingsManagementMarkets

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.