Regional Health Properties board rejects Black Pearl's $4.25/share tender offer, reaffirms SunLink merger

REGIONAL HEALTH PROPERTIES, INC

Black Pearl tender offer for 1,118,877 shares (49.9% of outstanding) at $4.25/share, open Aug 1-31, 2025.
Board determined offer not a Superior Proposal due to lack of financing details, 45% minimum tender, and control concerns.
ISS recommends shareholders vote FOR the SunLink merger, share issuance, and adjournment at July 29 special meeting.
As of filing, ~80% of common proxies received support the merger; board remains committed to closing on existing terms.

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