Regional Health starts exchange offer for 10.875% series A preferreds

By Mary-Katherine Stinson

Lexington, Ky., Feb. 28 – Regional Health Properties, Inc. launched an offer to exchange any and all its outstanding 10.875% series A cumulative redeemable preferred shares for newly issued 12.5% series B cumulative redeemable preferred shares, according to a press release on Monday.

The exchange offer is on a one-to-one basis of series A shares for series B shares.

In connection with the offer, the company is also soliciting proxies for use at a special meeting in which its series A preferred shareholders and common stockholders will be asked to approve certain amendments and related articles of incorporation and related matters.

The exchange offer is conditional on this approval.

The exchange offer will expire at 11:59 p.m. ET on March 28 unless otherwise extended or modified by the company.

Morrow Sodali LLC (203-658-9400, 800-662-5200) is the information agent for the exchange offer and the proxy solicitor for the special meeting.

Continental Stock Transfer & Trust Co., the company’s transfer agent, is acting as the exchange agent for the offer.

The Suwanee, Ga.-based company is a self-managed health care real estate investment company investing primarily in real estate purposed for senior living and long-term health care through facility lease, sub-lease, and operation of the facilities when required. The company is the successor to AdCare Health Systems, Inc.

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