Regional Health stockholders vote to reconvene special meeting in May

Chicago, March 29 – Regional Health Properties, Inc. announced that shareholders of its 10.875% series A cumulative redeemable preferred shares and holders of its common stock convened at a special meeting on Monday, but voted together as a single class to reconvene later for the purpose of soliciting additional votes for the required proposals, according to a press release.

The special meeting will be reconvened at 10 a.m. ET on May 2 at the Sonesta Gwinnett Place Atlanta, located at 1775 Pleasant Hill Road, Duluth, Ga.

Holders who have already submitted proxies do not need to resubmit. Holders of the preferred stock and the common stock may revoke their proxies.

As previously reported, Regional Health 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.

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 now expires at 5 p.m. ET on May 2. The offer originally expired at 11:59 p.m. ET on March 28.

As of the original deadline, 1,945,379 shares of series A preferred stock had been properly tendered in the exchange offer.

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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