Followers | 3819 |
Posts | 239344 |
Boards Moderated | 0 |
Alias Born | 07/30/2007 |
Friday, May 17, 2019 7:38:25 AM
RHE: REGIONAL HEALTH PROPERTIES, INC : Entry into a Material Definitive Agreement (form 8-K)
04/18/2019 | 04:14pm EDT
Item 1.01 Entry into a Material Definitive Agreement.
On April 15, 2019, certain wholly owned subsidiaries of Regional Health Properties, Inc. (collectively, "Seller") entered into a Purchase and Sale Agreement (the "PSA") with affiliates of MED Healthcare Partners LLC (collectively, "Buyer") with respect to four (4) skilled nursing facilities owned by the Seller.
Subject to the terms and conditions of the PSA, the Seller agreed to sell, and the Buyer agreed to purchase, all of the Seller's right, title and interest in: (a) that certain 182-bed skilled nursing facility commonly known as Attalla Health & Rehab located in Attalla, AL; (b) that certain 100-bed skilled nursing facility commonly known as Healthcare at College Park located in College Park, GA; (c) that certain 118-bed skilled nursing facility commonly known as Quail Creek Nursing & Rehabilitation Center located in Oklahoma City, OK; and (d) that certain 100-bed skilled nursing facility commonly known as Northwest Nursing Center located in Oklahoma City, OK (collectively, the "Facilities"). The Buyer's obligation to complete such purchase and sale is subject to specified closing conditions, including a thirty (30) day due diligence period (the "Due Diligence Period"). During the Due Diligence Period, the Buyer may, in its sole and absolute discretion, terminate the PSA by written notice to the Seller for any reason or no reason and receive the return of its security deposit. The Due Diligence Period will expire on May, 15 2019, at 5:00 p.m. Eastern Time.
The aggregate purchase price for the Facilities is $28,500,000.00 in cash, as prorated and adjusted in accordance with the PSA. Pursuant to the PSA, the Buyer deposited a first deposit of $150,000 into an escrow account. A second deposit of $150,000 is due from the Buyer after the expiration of the Due Diligence Period.
If the Buyer does not terminate the PSA for any or no reason prior to the expiration of the Due Diligence Period and fails to timely make the second deposit of $150,000, then such failure shall be a default by the Buyer and the Seller may then elect to terminate the PSA and receive the first deposit as liquidated damages. The closing under the PSA is scheduled for thirty (30) days after the expiration of the Due Diligence Period.
https://www.marketscreener.com/REGIONAL-HEALTH-PROPERTIE-50060989/news/REGIONAL-HEALTH-PROPERTIES-INC-Entry-into-a-Material-Definitive-Agreement-form-8-K-28449188/
RHE 8K
https://ih.advfn.com/stock-market/AMEX/regional-health-properties-inc-RHE/stock-news/79731613/current-report-filing-8-k
Recent RHE News
- Regional Health Properties Reports Fourth Quarter and Full Year 2023 Financial Results • GlobeNewswire Inc. • 04/08/2024 01:15:00 PM
- Regional Health Properties Reports Third Quarter 2023 Financial Results • GlobeNewswire Inc. • 11/17/2023 01:24:36 PM
- Regional Health Properties Reports Second Quarter 2023 Financial Results • GlobeNewswire Inc. • 08/23/2023 04:33:00 PM
- Regional Health Properties, Inc. Announces Receipt of Acceptance Letter from NYSE American • GlobeNewswire Inc. • 08/07/2023 08:15:00 PM
- Regional Health Properties, Inc. Announces Commencement of Trading of Series B Preferred Stock on OTC Markets • GlobeNewswire Inc. • 08/03/2023 08:52:23 PM
- Regional Health Properties, Inc. Announces Receipt of Notice of Noncompliance from NYSE American • GlobeNewswire Inc. • 07/06/2023 08:40:00 PM
- Regional Health Properties, Inc. Announces Final Results and Closing of Exchange Offer • GlobeNewswire Inc. • 07/03/2023 12:00:00 PM
- Regional Health Properties, Inc. Announces Shareholder Approval of Special Meeting Proposals, Satisfaction of All Conditions to Exchange Offer and Preliminary Results of Exchange Offer • GlobeNewswire Inc. • 06/28/2023 12:00:00 PM
- Regional Health Properties, Inc. Reminds Shareholders of Upcoming Special Meeting and Encourages Shareholders to Vote • GlobeNewswire Inc. • 06/21/2023 09:15:00 PM
- Regional Health Properties, Inc. Announces Commencement of Exchange Offer for All Outstanding Shares of its Series A Preferred Stock • GlobeNewswire Inc. • 05/25/2023 03:00:00 PM
- Regional Health Properties, Inc. Announces Receipt of Notice of Noncompliance from NYSE American • GlobeNewswire Inc. • 05/17/2023 09:15:00 PM
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM