secwatch.observer — SEC 8-K summary
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Issuer:     Elite Health Systems Inc. (EHSI)
CIK:        0001089815
Form:       8-K
Filed at:   2021-10-06T23:59:59+00:00
Accession:  0001140361-21-033882
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

USN subsidiary to acquire Elite Health Plan for 15% stake in unit
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- USN (wholly owned by USNU) issues 300 new shares to Elite Health shareholders, representing 15% of USN post-closing.
- Elite Health is a private Medicare Advantage plan developer formed in 2017; applying for Knox Keene license in California.
- Transaction does not immediately dilute USNU shareholders but reduces USNU's interest in USN by 15%.
- If no trading market for USN shares after six months, shareholders can request steps for public trading access or exchange into USNU shares.
- Approximately $167,000 of Elite Health's current obligations must be resolved before or after closing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1089815/000114036121033882/0001140361-21-033882-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1089815/000114036121033882/brhc10029560_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-21-033882

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