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Accendra Health, Inc. (ACH) is the issuer for a planned resale of common stock disclosed by Coliseum Capital Management, LLC, a 10% stockholder, under Rule 144. Coliseum and an investment advisory client of Coliseum Capital Management together intend to sell up to 10,726,759 shares of Accendra Health common stock through JonesTrading Institutional Services LLC and Virtu Americas LLC.
The filing states an aggregate market value for the shares of $11,584,899.72 and notes that Accendra Health had 76,904,704 shares outstanding. The securities being sold were acquired in open market purchases made for cash, with acquisition dates commencing on July 31, 2024 and ceasing on August 14, 2025.
Accendra Health, Inc. outlined updates to capital allocation and CEO succession. The company decided not to establish an at-the-market equity issuance program that had been contemplated to issue modest equity over time to reduce indebtedness, and stated this decision will have no impact on its results of operations or published guidance. Management reiterated confidence in liquidity, noting the company was undrawn on its $300 million revolving credit facility at the end of the second quarter and does not expect to rely on it other than for occasional working capital needs.
Accendra also reported opportunistic sales of two non-core assets, with one sale closed in the third quarter and the second expected to close before year-end, for a combined cash injection of approximately $45 million in the third and fourth quarters, with de minimis impact on Adjusted EBITDA. The board continues a long-standing CEO succession process and expects to announce a successor to CEO Dan Pesicka by mid-September 2026, ahead of his planned retirement by the end of 2026; he will remain CEO until a successor is in place and then serve in an advisory role.
Accendra Health, Inc. adopted a Section 382 Tax Asset Preservation Plan to help preserve its net operating loss carryforwards and other tax attributes by reducing the risk of an “ownership change” under the tax code. The board declared a dividend of one preferred share purchase right for each common share outstanding on August 20, 2026, issued under a Rights Agreement with Computershare Trust Company, N.A.
Each right allows the holder to buy one one-thousandth of a Series C Cumulative Preferred Share at a purchase price of $15.00, becoming exercisable if any person or group acquires 4.9% or more of the outstanding common stock, subject to detailed grandfathering and exemption provisions. If triggered, holders (other than the acquirer) can acquire common shares at a value equal to two times the exercise price, or the company may exchange each right for one common share. The plan can be redeemed by the board for $0.001 per right and is scheduled to expire at the close of business on August 10, 2029. In connection with the plan, the board approved Articles of Amendment designating the Series C Cumulative Preferred Stock.
Accendra Health reported weaker continuing operations for the quarter ended June 30, 2026. Net revenue fell to $613.2 million, down 10.1% from $681.9 million, driven largely by the termination of certain contracts with a commercial payor that had contributed $81 million of revenue over six months.
Cost of net revenue declined less than sales, so gross margin compressed, and selling, general and administrative expenses dropped but remained about 40% of revenue. The company recorded $29.2 million of acquisition-related charges and intangible amortization and $25.8 million of exit and realignment charges, including a large gain on patient service equipment sales and separation costs tied to the prior P&HS divestiture.
Loss from continuing operations widened to $89.1 million for the quarter and $95.5 million year-to-date. Cash and cash equivalents decreased sharply to $7.7 million from $282.0 million at year-end, while long-term debt stood at $1.72 billion, and shareholders’ deficit increased to $550.9 million. A June 2026 balance sheet optimization exchanged almost all unsecured notes into new 9.000% 2032 and 9.750% 2033 senior secured notes, extending maturities but raising coupons and contributing to higher interest expense.
Accendra Health reported second quarter 2026 results for its continuing operations, highlighting both ongoing losses and significant balance sheet changes. Net revenue was $613.2 million, down from $681.9 million a year earlier, with a GAAP loss from continuing operations of $89.1 million versus $83.8 million. Adjusted net loss was $14.3 million compared with adjusted income of $20.5 million, and Adjusted EBITDA declined to $60.1 million from $96.6 million. Free cash flow swung to negative $25.1 million from positive $15.2 million, while cash and cash equivalents fell to $7.7 million at June 30, 2026.
The company completed a balance sheet optimization, reducing outstanding debt by $385 million in the quarter and extending its weighted average debt maturity from about 2.7 to 5.5 years, leaving net debt at $1.71 billion. For full-year 2026, Accendra reaffirmed and updated guidance to revenue of $2.45–$2.55 billion, Adjusted EBITDA of $300–$320 million, and free cash flow around breakeven to slightly positive. The company also disclosed that President & CEO Edward A. Pesicka intends to retire by the end of 2026, with a succession process underway.
Accendra Health, Inc. announced that President, Chief Executive Officer and Director Edward A. Pesicka plans to retire and step down from the Board by the end of 2026, or earlier if a successor is appointed. The company states that his decision is not due to any disagreement regarding operations, policies or practices.
The Board has an established succession planning process and has previously identified potential candidates, and will now evaluate and select the next President and CEO. Mr. Pesicka may serve in an advisory capacity beyond his retirement to support a smooth transition. Accendra also highlighted a previously announced investor conference call for second quarter 2026 results on August 10, 2026 at 8:00 a.m. E.T., accessible via webcast and dial-in numbers.
Accendra Health, Inc. has filed a shelf registration to offer up to $200,000,000 of common stock, preferred stock, debt securities, depositary shares, warrants, stock purchase contracts and units, which may be sold from time to time in one or more offerings.
Authorized capital stock consists of 200,000,000 common shares with $2.00 par value and 10,000,000 cumulative preferred shares with $100.00 par value; 76,583,702 common shares were outstanding as of March 31, 2026. The common stock trades on the NYSE under “ACH,” with a July 14, 2026 closing price of $3.61. Net proceeds from future sales are expected to be used for general corporate and working capital purposes. The filing also details Virginia-law and charter-based provisions, including control share and affiliated transaction statutes and board powers over preferred stock, that may make takeovers or changes in control more difficult.
Accendra Health, Inc. reports the expiration and final results of its exchange offers for its 4.500% Senior Notes due 2029 and 6.625% Senior Notes due 2030. Eligible holders tendered approximately $478.3 million of 2029 Notes and $548.0 million of 2030 Notes, representing about 99.9% and 99.2% of the amounts outstanding at launch. After cancellation of exchanged notes, $338,000 of 2029 Notes and $4,170,000 of 2030 Notes remained outstanding. In connection with the exchanges and a new money issuance, the company issued $213.0 million of First Lien Notes and $698.1 million of Second Lien Notes for existing notes, plus $326.25 million of new money First Lien Notes, for a total of $539.25 million First Lien Notes.
Accendra Health, Inc. is executing a major liability management transaction, exchanging nearly all of its unsecured senior notes for new, higher-coupon secured notes and putting new credit facilities in place. As of the early exchange deadline, holders tendered approximately $478.3 million of 4.500% notes due 2029 (about 99.9% outstanding) and $547.9 million of 6.625% notes due 2030 (about 99.2% outstanding). The company accepted and cancelled these notes and issued $213.0 million of 9.000% First Lien Notes due 2032 and $698.0 million of 9.750% Second Lien Notes due 2033, plus $326.25 million of new-money First Lien Notes, for a total of $539.25 million First Lien Notes. Only $363,000 of 2029 notes and $4.257 million of 2030 notes remain outstanding. Accendra also replaced its existing revolver with a new $300.0 million revolving credit facility due 2030 and amended its term loan to waive mandatory prepayments on $400.0 million of asset sale proceeds and to permit the new secured notes and related liens, all subject to leverage and interest coverage covenants.