Regional Health Properties Receives Notice from NYSE American Regarding Late Filing of Quarterly Report on Form 10-Q
Regional Health Properties, Inc. (AMEX: RHE, RHE-PA) announced noncompliance with NYSE American's listing standards after failing to file its Q1 2022 report on time. The notice was received on May 24, 2022, stating that the delayed filing was required by May 23, 2022. The company is currently working on completing the report and plans to file it within 30 days. If not rectified, the company may face delisting procedures. The company's stock will continue to trade under symbols ‘RHE’ and ‘RHE-PA’ but will be marked as a late filer.
- Company is actively working to file the Delayed Form 10-Q within 30 days.
- Securities will continue trading on the Exchange under current symbols.
- Failed to timely file the Quarterly Report, raising compliance concerns.
- Potential delisting if the Filing Delinquency is not cured within the Initial Cure Period.
On
For the reasons previously disclosed in its Form 12b-25 filed with the
As a result of the foregoing, the Company has become subject to the procedures and requirements of Section 1007 of the Company Guide. During the six-month period from the date of the Filing Delinquency (the “Initial Cure Period”), the Exchange will monitor the Company and the status of the Delayed Form 10-Q and any subsequent reports until the Filing Delinquency is cured. If the Company fails to cure the Filing Delinquency within the Initial Cure Period, the Exchange may, in its sole discretion, allow the Company’s securities to be traded for up to an additional six-month period (the “Additional Cure Period”), depending on the Company’s specific circumstances. If the Exchange determines that an Additional Cure Period is not appropriate, suspension and delisting procedures will commence in accordance with the procedures set forth in Section 1010 of the Company Guide.
Notwithstanding the foregoing, however, the Exchange may in its sole discretion decide (i) not to afford the Company any Initial Cure Period or Additional Cure Period, as the case may be, at all or (ii) at any time during the Initial Cure Period or Additional Cure Period, to truncate the Initial Cure Period or Additional Cure Period, as the case may be. Furthermore, the Exchange may immediately commence suspension and delisting procedures if the Company is subject to delisting pursuant to any other provision of the Company Guide, including if the Exchange believes, in its sole discretion, that continued listing and trading of the Company’s securities on the Exchange is inadvisable or unwarranted in accordance with Sections 1001-1006 of the Company Guide.
In the interim, the Company’s securities will continue to be listed on the Exchange, subject to the Company’s compliance with other continued listing requirements, and the Company’s common stock and preferred stock will continue to trade under the symbols “RHE” and “RHE PRA,” respectively. The Exchange will make a late filer (“.LF”) indicator available on the consolidated tape. Each data vendor that disseminates the quotes and trades of Exchange-listed issuers may append this indicator to the ticker symbols of the Company. Each vendor is free to use an indicator of its own choosing so the letter or symbol used to indicate this status may differ from vendor to vendor. The Exchange also publishes a list of noncompliant issuers and displays the .LF indicator on its website.
The Company’s filings with the
About
The Company currently owns, leases, manages for third parties, and operates, 24 facilities. The Company: (i) leased 10 skilled nursing facilities (“SNF’s”) (which the Company owns); (ii) subleased six SNFs (which the Company leases) to third-party tenants; (iii) operated 3 SNF, previously subleased (which the Company leases) and 1 assisted living facility (ALF), previously leased (which the Company owns) as of
For more information, visit www.regionalhealthproperties.com.
Important Cautions Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of Exchange Act. All statements, other than statements of historical fact, included or incorporated in this press release are forward-looking statements. The words “believes,” “anticipates,” “estimates,” “plans,” “expects,” “intends,” “may,” “could,” “should,” “potential,” “likely,” “projects,” “continue,” “will,” and “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include, among others, those statements regarding Regional’s expectations as to the timing of the filing of the Delayed Form 10-Q.
These forward-looking statements involve risks and uncertainties, and actual results could vary materially from these forward-looking statements. Factors that may cause future results to differ materially from management’s current expectations include, among other things, that the completion and filing of the Delayed Form 10-Q will take longer than expected and that Regional will be unable to file the Delayed Form 10-Q within the Initial Cure Period or Additional Cure Period.
Regional does not guarantee that it will actually achieve the plans, intentions or expectations disclosed in its forward-looking statements and you should not place undue reliance on Regional’s forward-looking statements. There are a number of important factors that could cause Regional’s actual results to differ materially from those indicated or implied by its forward-looking statements, including those important factors set forth under the caption “Risk Factors” in Regional’s Annual Report on Form 10-K for the period ended
View source version on businesswire.com: https://www.businesswire.com/news/home/20220531005579/en/
Company Contacts
Chief Executive Officer & President
Tel (678) 368-4402
Brent.morrison@regionalhealthproperties.com
Investor Relations
Managing Partner
Hayden IR
Tel (646) 536-7331
brett@haydenir.com
Source:
FAQ
What happened with Regional Health Properties on May 24, 2022?
What is the impact of the filing delinquency on RHE stock?
What actions is Regional Health Properties taking regarding the Delayed Form 10-Q?