Selectis Health Inc. filings document a Utah public company that owns and operates healthcare facilities through subsidiaries and reports material events tied to skilled nursing facility assets. Recent 8-K disclosures cover completed dispositions of Georgia skilled nursing facilities, related purchase and sale agreements, subsidiary property interests, proceeds, escrows, debt repayment and other asset-sale terms.
The company’s SEC record also includes governance disclosures for board appointments and resignations, compensatory arrangements for directors, and changes involving executive or board roles. Capital-structure filings describe modifications to senior secured promissory notes, warrant terms and securityholder rights, while Form 12b-25 notices address annual-report timing and financial-statement preparation.
Selectis Health, Inc. notified the SEC under Rule 12b-25 that it could not timely file its Quarterly Report on Form 10-Q for the period ended March 31, 2026 because it has not completed preparation of its unaudited financial statements. The company signed the notice on May 14, 2026.
Selectis Health, Inc. completed the sale of two Georgia skilled nursing facilities for an aggregate purchase price of $15.7 million. After repaying mortgage debt and other liabilities, the company received approximately $9 million in net proceeds, excluding $1.57 million placed into escrow that may be released later.
The facilities include the 101-bed Glen Eagle Healthcare and Rehab in Abbeville and the 100-bed Eastman Healthcare and Rehab in Eastman. Operations were transferred from the company’s controlled operators to subsidiaries of the purchasers under an Operations Transfer Agreement without additional consideration. Selectis Health retained rights to collect tenant amounts relating to pre-closing periods, and unaudited pro forma financial information reflecting this disposition will be provided in a later amendment.
Black Pearl Equities terminated its cash tender offer for Selectis Health on May 1, 2026. The Purchaser offered to buy not less than 51% and up to 100% of outstanding shares at $5.05 per share. The Offer was ended because the Company did not remove or waive a transfer/ownership limitation (including a 9.8% cap) and the Board would not irrevocably waive charter provisions affecting tendered shares. No shares were accepted and no consideration was paid; tendered shares will be returned.
Selectis Health, Inc. reported a narrowed net loss for the year ended December 31, 2025 while remaining under financial strain. Total revenue rose about 6% to $41.4 million, driven by higher Medicaid rates that lifted healthcare revenue to $41.4 million, while rental revenue disappeared after prior property sales.
Operating expenses grew to $43.0 million, leaving a loss from operations of $1.6 million. After interest, credits and other income, net loss attributable to common stockholders improved to $1.1 million, or $0.34 per share, versus a $2.4 million loss in 2024.
The company owned 12 long‑term care facilities at year‑end, operating nine and leasing one, and has begun exiting Georgia through facility sales in early 2026. Debt remained high at about $31.0 million, with weighted average interest rates above 6% on fixed and above 8% on variable borrowings. Selectis ended 2025 with $1.0 million in cash, $0.8 million in restricted cash and a working capital deficit of $17.7 million, leading management to disclose substantial doubt about its ability to continue as a going concern without new capital, cost reductions or asset sales.
Selectis Health, Inc. reported that David Furstenberg resigned as a member of its Board of Directors and Audit Committee, effective immediately on March 30, 2026. The company expressed appreciation for his generous service and support, and the report was signed by CEO Adam Desmond.
Selectis Health, Inc. has filed a Schedule 14D-9 in response to a $5.05 per share cash tender offer from Black Pearl Equities, LLC to buy up to 100% of the Company’s common stock. As of March 9, 2026, 3,067,059 shares were issued and outstanding.
The Board has taken a neutral position and is not recommending whether stockholders should tender. The Board reviewed trading history, considered asset valuations (company estimates asset value ~$34,300,000, potential total assets up to $45,600,000, liabilities ~$18,700,000, and an estimated net value of $26,900,000), and noted ongoing negotiations with Purchaser concerning a possible higher offer. Insiders beneficially own 496,640 shares in the aggregate and hold 67,500 warrants exercisable at $2.25.
Selectis Health, Inc. reported that its Board of Directors approved the appointment of Richard Huebner, age 68, as a new director effective March 12, 2026. Huebner has served as senior managing partner and investment banker at GVC Capital LLC since 2001 and previously held senior roles at Fiserv Correspondent Services and Hanifen Imhoff entities, as well as legal and compliance positions at First Mid America, Inc.
He holds a bachelor’s degree from Hastings College in Nebraska (1979) and a Juris Doctor degree from the University of Nebraska (1982). As an outside director, Huebner will be eligible to participate in the company’s Outside Directors Compensation Plan and receive an annual cash stipend of $30,000, payable quarterly.
Black Pearl Equities, LLC is launching a fixed-price tender offer to purchase up to 100% of Selectis Health, Inc.'s common stock at $5.05 per share. The Offer seeks up to 3,067,059 shares (shares outstanding as of March 10, 2026) and is scheduled to expire on May 11, 2026 at 5:00 p.m.
The Offer is conditioned on at least 51% of outstanding shares on a fully diluted basis being validly tendered (the Minimum Tender Condition), a rights‑plan waiver and charter ownership limitation waiver, and reasonable access to customary due diligence materials. The Offeror states funding of approximately $15,500,000 from Milrose Capital, LLC and reserves rights to extend, increase, amend, or waive conditions.
Black Pearl Equities, LLC has launched a fixed-price tender offer to acquire up to 100% of Selectis Health, Inc. common stock at $5.05 per share. The Offer seeks up to 3,067,059 shares (the company’s shares outstanding as of March 10, 2026) and is conditioned on at least 51% of outstanding shares on a fully diluted basis being validly tendered. The Offer is scheduled to expire on May 11, 2026, is funded by Milrose Capital, LLC, and includes conditions requiring waivers of any rights plan and ownership limits before closing.