Selectis Health's sale of Georgia subsidiaries terminated by purchaser; company denies defaults

SELECTIS HEALTH, INC.

Effective Feb 20, 2024, Purchaser terminated the Purchase & Sale and Operations Transfer Agreements for certain Georgia subsidiaries without consummation.
Purchaser claimed Events of Default under the agreements; Selectis Health categorically denies those claims.
Company intends to pursue all rights and remedies regarding the terminated transaction.
The sale was previously disclosed in a Form 8-K dated December 5, 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

SELECTIS HEALTH, INC. terminated Purchase and Sale Agreement and Operations Transfer Agreement with Purchaser valued at Termination of the PSA and OTA without consummation (effective 2024-02-20).

Action: termination
Agreement: asset purchase
Counterparty: Purchaser
Value: Termination of the PSA and OTA without consummation
Effective: 2024-02-20

Exact text from the filing

Effective February 20, 2024, Selectis Health, Inc., a Utah corporation (the “ Company ”) received written notice from the Purchaser (“ Purchaser ”) under the Purchase and Sale Agreement (“ PSA ”) and Operations Transfer Agreement (“ OTA ”) for the sale of certain of its Georgia subsidiaries, as previously reported on its Current Report on Form 8-K dated November 30, 2023 and filed with the Securities and Exchange Commission on December 5, 2023, that the Purchaser was terminating the PSA and OTA without consummation.

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Source: SEC EDGAR

accession 0001493152-24-007578

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