other material
confidence high
sentiment neutral
materiality 0.60
RHE completes Series A preferred exchange; charter amended to reduce liquidation preference, eliminate dividends.
REGIONAL HEALTH PROPERTIES, INC
- Exchange of all outstanding 10.875% Series A Preferred for newly issued 12.5% Series B Preferred closed June 30, 2023.
- Amended and restated charter filed July 3, 2023; authorized shares reduced to 60M (55M common, 5M preferred).
- Series A liquidation preference cut to $5.00/share; all accumulated and future dividends eliminated.
- Series A redemption price (optional and change of control) reduced to $5.00/share; voting rights changed to one vote per $5.00 liquidation preference.