Regional Health Properties, Inc. finalizes purchases of 12.5% Series B Cumulative Redeemable Preferred Shares in a regional transaction
Regional Health Properties Completes Significant Repurchase of Preferred Shares
Regional Health Properties, Inc., a self-managed healthcare real estate investment company headquartered in Atlanta, Georgia, has announced the completion of the repurchase of 366,359 shares of its 12.5% Series B Cumulative Redeemable Preferred shares. This move comes following the merger with SunLink Health Systems, a transformative step for the company.
The repurchases were made through three privately negotiated transactions and were done using a portion of the excess cash obtained from the merger with SunLink Health Systems. Brent S. Morrison, Chairman and CEO of Regional, stated that the repurchases were made at a significant discount to the liquidation preference.
Mr. Morrison, who is also the Chief Executive Officer and President of Regional Health Properties, Inc., can be reached via email at [email protected] or by phone at (404) 823-2359.
Regional Health Properties primarily invests in real estate for senior living and long-term care. The company's shares are traded on the OTCQB under the symbols RHEP, RHEPA, RHEPB, and RHEPZ. After these repurchases, 1,885,913 shares of Series B Preferred remain outstanding.
For more information about Regional Health Properties, Inc., visit their website at www.regionalhealthproperties.com. The founding date of the company that merged into SunLink Health Systems, leading to the sale of preferred stock by Regional Health Properties, is not publicly available.
The merger with SunLink Health Systems has undoubtedly been a transformative step for Regional Health Properties, setting the company on a new trajectory for growth and success in the healthcare real estate sector.
