GPB Holdings II, LP: M&A transaction — GPB Holdings II sells HPI Holdco for $190M cash; board adopts liquidation plan

GPB Holdings II, LP

Completed sale of all equity interests of HPI Holdco to Lotus HPI Buyer for $190M cash, less adjustments, escrows and holdbacks.
Sale includes HealthPrime International; Technology-Enabled Services segment reported as discontinued operations.
Board commences plan to liquidate remaining net assets and wind up the Partnership; adopts liquidation accounting as of Dec 31, 2023.
Director Joseph LaPorta resigns effective Jan 19, 2024; departure not due to any disagreement.

item 2.01 item 5.02 item 9.01

Executive movements

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Departed

Joseph LaPorta

Director

GPB Holdings II, LP

Effective: 2024-01-19
Filed: January 25, 2024, 6:59 PM ET

On January 19, 2024, Joseph LaPorta notified the Partnership of his decision to resign effective immediately from the Board which oversees the management related to the Partnership’s affairs.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Joseph LaPorta resigned as Director at GPB Holdings II, LP.

Action: resigned
Role: Director

Exact text from the filing

On January 19, 2024, Joseph LaPorta notified the Partnership of his decision to resign effective immediately from the Board which oversees the management related to the Partnership’s affairs.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

GPB Holdings II, LP completed a disposition involving Lotus HPI Buyer, Inc. for $190 million in cash (closed 2024-01-19).

Action: disposition
Counterparty: Lotus HPI Buyer, Inc.
Consideration: $190 million in cash
Closing: 2024-01-19

Exact text from the filing

Agreement”) previously announced by the Partnership in a Current Report on Form 8-K filed on December 21, 2023. At the closing of the Transaction, Purchaser paid Seller $190 million in cash (the “Purchase Price”), less applicable adjustments, escrows and holdbacks. In addition, pursuant to the Purchase Agreement, at the closing of the Transaction,

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Source: SEC EDGAR

accession 0001104659-24-006679

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