PACS Group Faces Delisting Concerns

TL;DR

PACS Group might get delisted - big trouble ahead.

AI Summary

PACS Group, Inc. filed an 8-K on November 26, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard. The filing indicates potential issues with the company's continued listing on the stock exchange, although specific details regarding the rule or standard not met are not provided in this excerpt.

Why It Matters

This filing signals potential financial distress or non-compliance with exchange rules, which could lead to the stock being delisted, impacting investor confidence and liquidity.

Risk Assessment

Risk Level: high — A notice of delisting directly threatens the company's ability to remain publicly traded, indicating severe financial or compliance issues.

Key Players & Entities

• PACS Group, Inc. (company) — Registrant
• 001-42011 (company) — Commission File Number
• 92-3144268 (company) — IRS Employer Identification Number
• November 20, 2024 (date) — Earliest event reported
• November 26, 2024 (date) — Date of Report

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value per share PACS The New York S

Filing Documents

• pacs-20241120.htm (8-K) — 30KB
• exhibit991-pacsgroupincnys.htm (EX-99.1) — 9KB
• 0002001184-24-000051.txt ( ) — 163KB
• pacs-20241120.xsd (EX-101.SCH) — 2KB
• pacs-20241120_lab.xml (EX-101.LAB) — 21KB
• pacs-20241120_pre.xml (EX-101.PRE) — 12KB
• pacs-20241120_htm.xml (XML) — 3KB

01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On November 20, 2024, PACS Group, Inc., a Delaware corporation (the "Company"), received a notice of noncompliance (the "NYSE Notice") from the New York Stock Exchange ("NYSE") noting that the Company is not in compliance with Section 802.01E of the NYSE Listed Company Manual, Annual and Quarterly Report Timely Filing Criteria due to the delayed filing of the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 (the "Form 10-Q"). The NYSE has informed the Company that it has up to six months from November 19, 2024 to file its Form 10-Q to regain compliance. The Company intends to file the Form 10-Q and regain compliance within this initial six month period, however, there can be no assurance that the Company will ultimately regain compliance with all applicable NYSE listing standards.

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On November 26, 2024, the Company issued a press release announcing its receipt of the NYSE Notice. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information under this Item 7.01, including Exhibit 99.1 hereto, is being furnished herewith and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing. Furthermore, the furnishing of information under Item 7.01 of this Current Report on Form 8-K is not intended to constitute a determination by the Company that the information contained herein, including the exhibit hereto, is material or that the dissemination of such information is required by Regulation FD. Cautionary Statement Regarding Forward-Looking Statements This Current Report on Form 8-K contains "forward-looking statements." These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as "believe," "expect," "anticipate," "intend," "estimate," "project," "outlook," "forecast," "target," "trend," "plan," "goal," or other words of comparable meaning or future-tense or conditional verbs such as "may," "will," "should," "would," or "could." Statements concerning the Company's future are forward-looking statements, and are based on management's current expectations, assumptions and beliefs about the Company's business, financial performance, operating results, the industry in which the Company operates and possible future events. These statements include, but are not limited to, statements regarding the Company's expectations re

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. Exhibit No. Description 99.1 P ress Release dated November 2 6 , 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PACS GROUP, INC. Date: November 26, 2024 By: /s/ Derick Apt Derick Apt Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR