Every 8-K that SELECTIS HEALTH INC (GBCS) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow GBCS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full GBCS filings page.
Selectis Health, Inc. (GBCS) reports that an affiliate of Black Pearl Equities has successfully completed its tender offer to acquire the company for $5.75 per share in cash. As of the August 31, 2026 expiration, 2,789,027 shares, or about 90.93% of outstanding common stock, were validly tendered and accepted for payment.
Under the Merger Agreement, a follow-on merger under Utah law will convert each remaining share into the right to receive the same $5.75 cash consideration, after which Selectis will become an indirect wholly owned subsidiary of Black Pearl and plans to deregister its shares and cease OTCQB quotation. To fund the approximately $17.6 million aggregate offer and merger consideration plus fees, Selectis, Black Pearl Equities II, LLC and Tortuga Acquisition Sub, Inc. entered into a new $18.23 million secured term loan facility at a fixed 5.0% interest rate maturing August 28, 2031. Following the change in control, board and management changes include the resignation of director Lance J. Baller and interim CEO Krystal Eckhart (who remains interim CFO) and the appointment of Abraham Schwartz and Zalman Schapiro as directors.
Selectis Health, Inc. entered into a definitive agreement to be acquired by affiliates of Black Pearl Equities through a cash tender offer. Black Pearl will offer $5.75 per share in cash for any and all outstanding Selectis common shares, followed by a merger that will take Selectis private as a wholly owned subsidiary.
The tender offer requires that at least 70% of outstanding shares be validly tendered and not withdrawn, along with other conditions such as minimum unrestricted cash of $6.8 million and required regulatory approvals. The board of directors unanimously approved the deal and recommends that stockholders tender into the offer, which is expected to close in the third quarter of 2026, subject to all conditions.
Selectis Health, Inc. announced that Adam Desmond has resigned from all roles with the company, including CEO, CFO, and director, effective May 14, 2026. A Separation Agreement and Release has been executed between the parties.
On May 15, 2026, the Board appointed Krystal Eckhart, previously a Vice President, as Interim CEO and Interim CFO. Eckhart has more than 15 years of healthcare revenue cycle and financial operations experience and has worked with Selectis Health since 2016, overseeing Medicare and Medicaid operations, audits, financial reporting, and acquisition-related processes.
Selectis Health, Inc. completed the sale of two Georgia skilled nursing facilities for an aggregate purchase price of $15.7 million. After repaying mortgage debt and other liabilities, the company received approximately $9 million in net proceeds, excluding $1.57 million placed into escrow that may be released later.
The facilities include the 101-bed Glen Eagle Healthcare and Rehab in Abbeville and the 100-bed Eastman Healthcare and Rehab in Eastman. Operations were transferred from the company’s controlled operators to subsidiaries of the purchasers under an Operations Transfer Agreement without additional consideration. Selectis Health retained rights to collect tenant amounts relating to pre-closing periods, and unaudited pro forma financial information reflecting this disposition will be provided in a later amendment.
Selectis Health, Inc. reported that David Furstenberg resigned as a member of its Board of Directors and Audit Committee, effective immediately on March 30, 2026. The company expressed appreciation for his generous service and support, and the report was signed by CEO Adam Desmond.
Selectis Health, Inc. reported that its Board of Directors approved the appointment of Richard Huebner, age 68, as a new director effective March 12, 2026. Huebner has served as senior managing partner and investment banker at GVC Capital LLC since 2001 and previously held senior roles at Fiserv Correspondent Services and Hanifen Imhoff entities, as well as legal and compliance positions at First Mid America, Inc.
He holds a bachelor’s degree from Hastings College in Nebraska (1979) and a Juris Doctor degree from the University of Nebraska (1982). As an outside director, Huebner will be eligible to participate in the company’s Outside Directors Compensation Plan and receive an annual cash stipend of $30,000, payable quarterly.
Selectis Health, Inc. entered into a definitive Purchase and Sale Agreement for two of its skilled nursing facilities in Georgia. Two wholly-owned property subsidiaries agreed to sell substantially all real and personal property related to the 101-bed Glen Eagle Healthcare and Rehab in Abbeville and the 100-bed Eastman Healthcare and Rehab in Eastman for a combined purchase price of $15,700,000, subject to customary prorations, holdbacks, and adjustments. Closing is contingent on completion of due diligence and other conditions, and may not occur.
At the same time, Selectis caused its operating subsidiaries to sign an Operations Transfer Agreement with new affiliated operators. If the sale is completed, this agreement will govern the transfer of the skilled nursing operations at both facilities to the new operators, with consummation of the operations transfer also contingent on closing of the property sale.
Selectis Health, Inc. completed the sale of two skilled nursing facilities in Georgia through wholly owned subsidiaries, transferring substantially all related real and personal property. The Sparta and Warrenton facilities were sold for an aggregate purchase price of $13.175 million, subject to customary prorations, holdbacks and adjustments, with $1.3 million placed in escrow that may be released to the sellers if no indemnity claims arise. The company retained rights to collect tenant amounts related to periods before closing. A substantial portion of the net proceeds was used to pay in full a facility mortgage, note obligations, a contractual obligation, transaction costs and other expenses, with the remaining balance expected to support working capital. Concurrently, operations of the facilities were transferred from the prior controlled operators to new operators affiliated with the purchasers, without additional consideration.
Selectis Health, Inc. reported that effective January 1, 2026, its Board of Directors appointed Kent J. Lund and Lance Baller as members of the Board. Lund is a seasoned business, legal, and securities professional with experience as a federal court of appeals law clerk, large-firm attorney, in-house counsel to a major multinational energy company, and senior executive and compliance officer at broker-dealers and investment advisers. He has also served on the Colorado Securities Board, the FINRA West Region Committee, and the board and audit committee of a private broadband company.
Baller, age 51, is co‑founder and non‑executive chairman of Iofina Plc and has previously served as its CFO and CEO. He has led and owned multiple private businesses across mining, equipment leasing, real estate, and professional services, and founded the Baller Family Foundation. From 2015 to 2023 he served as CEO, Interim CEO, and Director of Selectis Health, bringing prior company-specific leadership experience. His background includes hedge fund management, mergers and acquisitions advisory work, investment banking roles at UBS and Morgan Stanley, and extensive audit committee and board service for mutual funds and ETFs.
Selectis Health, Inc. reported that it entered into a Third Amended and Restated Allonge and Modification Agreement covering its 2018 11% Senior Secured Promissory Notes, with an aggregate principal of $1,775,000 outstanding. The agreement extends the Notes’ maturity to the earlier of February 28, 2026 or completion of a qualified transaction that generates enough net proceeds to repay all principal and accrued interest. Interest on the Notes will now accrue at 13% per year until paid in full.
The company also extended the expiration date of warrants previously granted to the noteholders to December 31, 2027, keeping the exercise price at $2.25 per share. Effective January 1, 2026, Kent Lund and Lance Baller will join the Board of Directors, and Selectis will pay a $9,000 solicitation fee to GVC Capital LLC in connection with this agreement.
Selectis Health, Inc. reported that two wholly owned subsidiaries entered into a definitive Purchase and Sale Agreement to sell substantially all real and personal property of two skilled nursing facilities in Georgia. The facilities, Providence of Sparta Health & Rehab in Sparta and Warrenton Health and Rehabilitation in Warrenton, are being sold to entities affiliated with Journey Propco for a total purchase price of $13,175,000, subject to customary prorations, holdbacks and adjustments.
At the same time, the operating subsidiaries signed an Operations Transfer Agreement with new operator entities affiliated with the buyers, which will govern transfer of the skilled nursing operations if the property sale closes. Both agreements are subject to completion of due diligence and other customary conditions, and the company notes there can be no assurance that these transactions will be consummated.