Regional Health Properties, Inc. recently received confirmation from the Listing Qualifications Panel of the NYSE American regarding the delisting proceedings of its Common Stock and Series A Redeemable Preferred Shares. As initially disclosed in a Form 8-K filing on November 12, 2024, the NYSE American staff had decided to commence delisting procedures due to Regional Health Properties’ failure to meet specific listing requirements.
An 18-month compliance plan, which concluded on November 10, 2024, aimed at reinstating compliance with NYSE American’s regulations, was determined to be unsuccessful, leading to the initiation of delisting proceedings. Regional Health Properties had the opportunity to challenge this decision by requesting a hearing with the Panel. Subsequently, a hearing was held on January 30, 2025, where both Regional Health Properties and the NYSE American staff presented their cases.
Currently, although the Securities remain listed on the NYSE American, trading has been halted. The expectation is for the Securities to transition to the over-the-counter market following the delisting process.
It is important to note that all communications in the Form 8-K filing regarding this matter do not constitute any offer to sell securities or solicit votes, and no securities will be sold unlawfully. Additionally, Regional Health Properties is considering its options and assessing whether to pursue a review of the Panel’s decision.
The company also disclosed plans for a proposed merger with SunLink Health Systems, Inc., subject to approval by both shareholders. More information about this merger will be made available through a Registration Statement on Form S-4, to be filed with the SEC. Investors are advised to monitor upcoming filings and statements related to the merger for further details and updates.
The Form 8-K filing also included cautionary statements regarding forward-looking information, highlighting potential risks and uncertainties associated with the proposed merger and Regional Health Properties’ operations in general. The company will continue to evaluate its strategic options in light of recent developments.
This article does not constitute investment advice and is for informational purposes only regarding Regional Health Properties’ recent filing and business activities.
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Regional Health Properties’s 8K filing here.
Regional Health Properties Company Profile
Regional Health Properties, Inc, through its subsidiaries, operates as a self-managed real estate investment company that invests primarily in real estate purposed for long-term care and senior living. Its business principally consists of leasing and subleasing such facilities to third-party tenants, which operate the facilities.
See Also
- Five stocks we like better than Regional Health Properties
- 3 Dividend Kings To Consider
- IBM’s AI Bet Pays Off—What’s Next for Investors?
- What is a support level?
- 3 Reasons to Treat AMD’s Drop as an Entry Opportunity
- 10 Best Airline Stocks to Buy
- Qualcomm’s Post-Earnings Dip: A Prime Buying Opportunity?
