Regional Health Properties, Inc - RHE-PA STOCK NEWS

Regional Health Properties, Inc. (NYSE American: RHE, RHE-PA) announced on January 3, 2023, that it received a notice from NYSE American for failing to hold an annual shareholders' meeting by December 31, 2022. The Company plans to hold the delayed 2022 annual meeting on February 14, 2023, in Duluth, Georgia. Post-meeting, Regional expects to regain compliance with NYSE listing standards. The press release also includes forward-looking statements regarding the timing of the meeting and associated expectations.

Regional Health Properties, Inc. (AMEX: RHE, RHE-PA) held a special meeting on July 25, 2022, to discuss several proposals regarding its Series A and Series B Preferred Stocks. The Preferred Series A Charter Amendment and Series B Preferred Stock proposals were approved, while the Common Charter Amendment proposal was rejected, preventing the implementation of the amendments. Additionally, the Company terminated its Exchange Offer for Series A Preferred Stock due to the lack of requisite shareholder approval, leaving the Series A Preferred Stock unchanged and outstanding.

ISS has recommended that Regional Health Properties' common shareholders vote in favor of Proposals 1 and 2 at the Special Meeting on July 25, 2022. Proposal 1 aims to amend the Series A Preferred Stock terms and increase the number of authorized shares from 60 million to 61 million, providing advantages like reducing liquidation preferences and deferring dividend accumulation. Proposal 2 seeks to approve adjournments for additional votes if necessary. The board emphasizes voting to benefit capital raising and strategic initiatives.

Regional Health Properties, Inc. (NYSE American: RHE, RHE-PA) convened a Special Meeting on May 31, 2022 for holders of its Series A Preferred Stock and Common Stock. The meeting was adjourned to July 25, 2022, allowing additional time to solicit votes for required proposals. An Exchange Offer is ongoing, extending the deadline to July 25, 2022, enabling Series A holders to exchange shares for 12.5% Series B Preferred Shares. As of May 31, 2022, 2,307,609 shares were tendered.

Regional Health Properties, Inc. (AMEX: RHE, RHE-PA) announced noncompliance with NYSE American's listing standards after failing to file its Q1 2022 report on time. The notice was received on May 24, 2022, stating that the delayed filing was required by May 23, 2022. The company is currently working on completing the report and plans to file it within 30 days. If not rectified, the company may face delisting procedures. The company's stock will continue to trade under symbols ‘RHE’ and ‘RHE-PA’ but will be marked as a late filer.

Regional Health Properties, Inc. (NYSE American: RHE, RHE-PA) held a Special Meeting on May 2, 2022, for holders of its 10.875% Series A Cumulative Redeemable Preferred Shares and common stock. The meeting was adjourned to May 31, 2022, to solicit additional votes. An Exchange Offer for the Series A Preferred Stock has been initiated, extending the tender deadline to the same date. As of May 2, 2022, 2,275,300 shares had been tendered, demonstrating shareholder participation.

Regional Health Properties (RHE) announced the adjournment of its Special Meeting for shareholders of its 10.875% Series A Cumulative Redeemable Preferred Shares and Common Stock, initially held on March 28, 2022, to solicit additional votes. The meeting will be reconvened on May 2, 2022. Additionally, the company is extending the expiration date of its Exchange Offer for Series A Preferred Stock to May 2, 2022. As of March 28, 2022, 1,945,379 shares of Series A Preferred Stock had been tendered in the Exchange Offer.

Regional Health Properties, Inc. (NYSE American: RHE, RHE-PA) reported financial results for the year ending December 31, 2021. The company collected 94.1% of fourth-quarter cash rent and experienced total patient care revenues of $2.0 million for Q4, totaling $9.5 million for the year. Occupancy rates stood at 65.1% amid pandemic challenges. The exchange offer for Series A Preferred Shares aims to streamline capital structure. Net loss attributable to common stockholders was $661,000 for Q4, less than $1.0 million a year prior, with cash increasing to $6.8 million.

Regional Health Properties, Inc. (NYSE American: RHE, RHE-PA) has announced an Exchange Offer for its outstanding 10.875% Series A Cumulative Redeemable Preferred Shares, proposing to exchange them for newly issued 12.5% Series B Cumulative Redeemable Preferred Shares. This offer is valid until 11:59 p.m. on March 28, 2022, unless extended. The Exchange Offer's success is contingent upon shareholder approval of associated proposals during a special meeting. The complete terms are outlined in the Proxy Statement/Prospectus filed with the SEC.