Regional Health Properties Faces Delisting Concerns

TL;DR

RHP might get delisted, stock could be in trouble.

AI Summary

Regional Health Properties, Inc. filed an 8-K on November 11, 2024, reporting a notice of delisting or failure to satisfy continued listing rules. The company, formerly known as Adcare Health Systems, Inc., is based in Atlanta, GA, and operates in the real estate sector.

Why It Matters

This filing indicates potential issues with the company's continued listing on an exchange, which could significantly impact its stock liquidity and investor confidence.

Risk Assessment

Risk Level: high — A notice of delisting or failure to meet listing standards suggests significant financial or operational distress, posing a substantial risk to investors.

Key Players & Entities

• REGIONAL HEALTH PROPERTIES, INC (company) — Registrant
• ADCARE HEALTH SYSTEMS, INC (company) — Former Company Name
• November 11, 2024 (date) — Date of earliest event reported
• Atlanta, GA (location) — Company Business Address

FAQ

Filing Documents

• rhe-20241111.htm (8-K) — 57KB
• rhe-ex99_1.htm (EX-99.1) — 16KB
• img228675862_0.jpg (GRAPHIC) — 12KB
• 0000950170-24-125458.txt ( ) — 243KB
• rhe-20241111.xsd (EX-101.SCH) — 48KB
• rhe-20241111_htm.xml (XML) — 6KB

01

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On November 11, 2024, NYSE American LLC (" NYSE American " or the " Exchange ") publicly announced and provided a notice to Regional Health Properties, Inc. (the " Company ") that the NYSE Regulation has determined to commence proceedings to delist the Company's common stock, no par value (the " Common Stock "), and the Company's Series A Redeemable Preferred Shares, no par value (the " Series A Preferred Shares " and, together with the Common Stock, the " Securities "), from NYSE American. NYSE Regulation has determined that the Company is no longer suitable for listing pursuant to Section 1009(a) of the NYSE American Company Guide (the " Company Guide ") as the Company was unable to demonstrate that it had regained compliance with Sections 1003(a)(i) and (ii) of the Company Guide by the end of the maximum 18-month compliance plan period, which expired on November 10, 2024. The Company has a right to a review of the NYSE Regulation determination to delist the Securities by the Listings Qualifications Panel of the Committee for Review of the Board of Directors of the Exchange (the " Panel "). The Company's request for such a review must be made by November 18, 2024. The Company intends to appeal such determination. The Company expects the Securities to continue to trade on NYSE American during the appeal process. Following such appeal, a decision by the Panel will be made and announced by NYSE American regarding either proceeding with suspension and delisting or continued trading in the Securities. The filing of an application with the Securities and Exchange Commission (the "SEC") to delist the Securities is pending completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation's decision.

01 Other Events

Item 8.01 Other Events. On November 11, 2024, the Company issued a press release discussing the matters disclosed in Item 3.01 above. A copy of the press release is included herewith as Exhibit 99.1, which is incorporated by reference into this Item 8.01.

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon current expectations and involve certain risks and uncertainties, including the trading in the Company's Securities on the NYSE American and the Company's ability to appeal the delisting of the Securities by NYSE American. Additional information and key risks applicable to these statements are described in the Company's reports on Forms 8-K, 10-Q and 10-K and other filings the Company makes with the SEC. All of the forward-looking statements in this Current Report on Form 8-K are qualified by these cautionary statements, and actual results or developments may differ materially from those in these forward-looking statements. The Company assumes no obligation to publicly update or revise any forward-looking statements.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 99.1 Press Release, dated November 11, 2024. 104 Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. REGIONAL HEALTH PROPERTIES, INC. Date: November 12, 2024 /s/ Brent Morrison Brent Morrison Chairman, Chief Executive Officer and President

View Full Filing

View this 8-K filing on SEC EDGAR