STOCK TITAN

Selectis Health $5.75 cash tender extended to Aug. 31

(Neutral)
(Neutral)
Form Type
SC TO-T/A

Rhea-AI Filing Summary

SELECTIS HEALTH, Inc. (GBCS) is the subject of a cash tender offer by Black Pearl Equities, LLC and its affiliates, which has been amended to extend key deadlines. The offer seeks to purchase all outstanding common shares at $5.75 per share in cash, without interest and subject to tax withholding.

The expiration of the offer is extended from 5:00 p.m. New York City time on August 27, 2026 to 5:00 p.m. New York City time on August 31, 2026, unless further extended. As of August 27, 2026, 2,786,482 shares had been validly tendered and not withdrawn. The deadline to deliver shares using the guaranteed delivery procedures is extended to 5:00 p.m. New York City time on September 1, 2026, and the deadline for stockholders to deliver written demands for appraisal rights under Utah law is correspondingly extended.

Positive

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Negative

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Filing Explained

Although the filing checks the box for a final amendment reporting tender-offer results, its operative disclosure extends the offer and withdrawal deadline to August 31, 2026, so the offer remains in an extended rather than completed state.

Offer price per share $5.75 per Share Cash tender offer price for each common share of Selectis Health, Inc.
Offer expiration time and date 5:00 p.m., New York City time, on August 31, 2026 Extended expiration of the tender offer
Guaranteed delivery deadline 5:00 p.m., New York City time, on September 1, 2026 Extended deadline to deliver Shares using guaranteed delivery procedures
Shares tendered 2,786,482 Shares Validly tendered and not withdrawn as of August 27, 2026
Offer to Purchase financial
"upon the terms and subject to the conditions set forth in the Offer to Purchase"
An offer to purchase is a formal proposal from one party to buy a specific amount of shares or assets from another party at a set price. It matters to investors because it signals interest in acquiring ownership and can influence the value or control of a company. Think of it as someone putting forward a clear, serious offer to buy something they find valuable.
Letter of Transmittal financial
"and in the related Letter of Transmittal"
A letter of transmittal is a written form investors use when sending physical stock certificates or electronic ownership documents to a company or its agent to surrender shares, tender them in an offer, or claim payment or replacement securities. It acts like a packing slip that lists what is enclosed, gives instructions on how the transfer should be handled, and provides proof of the transaction—important for ensuring investors receive the correct payment or new securities without delay or dispute.
guaranteed delivery procedures financial
"pursuant to the guaranteed delivery procedures described in Section 3 of the Offer"
Guaranteed delivery procedures are a settlement arrangement that lets a buyer or seller complete a trade even when the actual shares or cash cannot be delivered immediately, by promising to provide them within a short, specified window. For investors this works like reserving and paying for an item that will be shipped later: it reduces the risk of a failed trade and allows participation in offerings or market trades despite paperwork or transfer delays, but it also means you should watch the final settlement date and counterparty obligations.
appraisal rights regulatory
"The deadline for stockholders wishing to exercise appraisal rights under Utah law"
A legal right that lets shareholders who dislike the price or terms of a buyout, merger or other major corporate change ask for an independent determination of the fair value of their shares instead of accepting the deal price. Think of it like asking a neutral referee to set the payout if you believe the offered price is too low. For investors, appraisal rights can provide a way to recover a higher cash value but can be slow, costly and create uncertainty around deal outcomes.

FAQ

What is the tender offer price for SELECTIS HEALTH, Inc. (GBCS) shares?

The tender offer price is $5.75 per share in cash, without interest and subject to any required tax withholding, for each share of SELECTIS HEALTH, Inc. common stock.

When does the extended tender offer for GBCS now expire?

The tender offer now expires at 5:00 p.m., New York City time, on August 31, 2026, unless it is further extended by the offerors.

How many GBCS shares have been tendered so far in the offer?

As of August 27, 2026, a total of 2,786,482 shares of SELECTIS HEALTH, Inc. common stock had been validly tendered and not withdrawn in the offer.

What is the new deadline for guaranteed delivery of GBCS shares into the offer?

The deadline to deliver SELECTIS HEALTH, Inc. shares pursuant to the guaranteed delivery procedures is extended to 5:00 p.m., New York City time, on September 1, 2026.

Have appraisal rights deadlines for GBCS stockholders changed?

Yes. The deadline for stockholders of SELECTIS HEALTH, Inc. wishing to exercise appraisal rights under Utah law to deliver a written demand for appraisal is correspondingly extended in line with the new offer timing.

Who is making the tender offer for SELECTIS HEALTH, Inc. (GBCS)?

The offer is being made by Black Pearl Equities, LLC, together with its wholly owned subsidiaries Black Pearl Equities II, LLC and Tortuga Acquisition Sub, Inc..

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

____________________

 

SCHEDULE TO

TENDER OFFER STATEMENT UNDER SECTION 14(D)(1) OR 13(E)(1)

OF THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 6)

____________________

 

SELECTIS HEALTH, Inc.

(Name of Subject Company (Issuer))

____________________

 

BLACK PEARL EQUITIES, LLC

and

BLACK PEARL EQUITIES II, LLC,

its wholly owned subsidiary

and

TORTUGA ACQUISITION SUB, INC.,

its wholly owned subsidiary

(Names of Filing Persons (Offerors))

 

ABRAHAM SCHWARTZ

and

SCHNEUR ZALMAN SCHAPIRO

(Names of Filing Persons (Other Persons))

___________________

 

Common Stock, par value $0.05 Per Share

(Title of Class of Securities)

____________________

 

816291108

(CUSIP Number of Class of Securities)

____________________

 

Abraham Schwartz

Chief Executive Officer

901 Myrtle Avenue

Brooklyn, NY 11206

(212) 235-1367

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications on Behalf of Filing Persons)

____________________

 

 

 

With a copy to:

Ryan Nebel
Michael R. Neidell
Olshan Frome Wolosky LLP
1325 Avenue of the Americas
New York, NY 10019
(212) 451-2300

____________________

 

 

Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer.

 

Check the appropriate boxes below to designate any transactions to which the statement relates:

third-party tender offer subject to Rule 14d-1.
issuer tender offer subject to Rule 13e-4.
going-private transaction subject to Rule 13e-3.
amendment to Schedule 13D under Rule 13d-2.

 

Check the following box if the filing is a final amendment reporting the results of the tender offer:

 

If applicable, check the appropriate box(es) below to designate the appropriate rule provision(s) relied upon:

Rule 13e-4(i) (Cross-Border Issuer Tender Offer)
Rule 14d-1(d) (Cross-Border Third-Party Tender Offer)
 

 

 

 

 

This Amendment No. 6 to Tender Offer Statement on Schedule TO (this “Amendment”) is filed by Black Pearl Equities, LLC, a New York limited liability company (“Parent”), Black Pearl Equities II, LLC, a New York limited liability company and a wholly owned subsidiary of Parent (“Purchaser”), and Tortuga Acquisition Sub, Inc., a Utah corporation and a wholly owned subsidiary of Purchaser (“Merger Sub”).

This Amendment amends and supplements the Tender Offer Statement on Schedule TO filed by Parent, Purchaser and Merger Sub with the U.S. Securities and Exchange Commission on July 13, 2026 (together with any amendments and supplements thereto, the “Schedule TO”) relating to their offer to purchase all of the issued and outstanding shares of common stock, par value, $0.05 per share (the “Shares”), of Selectis Health, Inc., a Utah corporation (the “Company”), at a purchase price of $5.75 per Share in cash (the “Offer Price”), without interest thereon and subject to any required tax withholding, upon the terms and subject to the conditions set forth in the Offer to Purchase, dated July 13, 2026 (the “Offer to Purchase”), and in the related Letter of Transmittal (the “Letter of Transmittal”), copies of which are attached as Exhibits (a)(1)(A) and (a)(1)(B), respectively, to the Schedule TO (which, together with any amendments or supplements thereto, collectively constitute the “Offer”).

Except as otherwise set forth in this Amendment, the information in the Schedule TO remains unchanged and is incorporated herein by reference to the extent relevant to the items in this Amendment.

Items 1 through 9 and 11.

The Offer to Purchase, Letter of Transmittal and Items 1 through 9 and 11 of the Schedule TO, to the extent such Items incorporate by reference the information contained in the Offer to Purchase, are hereby amended and supplemented as follows:

The Offer was scheduled to expire at 5:00 p.m., New York City time, on August 27, 2026. The Expiration Date of the Offer is extended until 5:00 p.m., New York City time, on August 31, 2026, unless further extended. Additionally, Shares that have been previously tendered may be withdrawn at any time until 5:00 P.M., New York City time, on August 31, 2026. The deadline to deliver Shares pursuant to the guaranteed delivery procedures described in Section 3 of the Offer to Purchase is correspondingly extended to 5:00 p.m., New York City time, on September 1, 2026. The deadline for stockholders wishing to exercise appraisal rights under Utah law to deliver a written demand for appraisal is correspondingly extended.

As of August 27 2026, 2,786,482 Shares had validly been tendered in, and not withdrawn from, the Offer.

All references to the scheduled expiration of the Offer being “5:00 p.m., New York City time, on August 27, 2026” set forth in the Offer to Purchase or the Letter of Transmittal are hereby amended and replaced with “5:00 p.m., New York City time, on August 31, 2026.”

Item 12. Exhibits.

Item 12 is hereby amended to add the following exhibit:

Exhibit No.   Description
     
 (a)(5)(C)   Press Release issued by Black Pearl Equities, LLC, dated August 28, 2026.*

 

* Filed herewith

 

 

SIGNATURES

After due inquiry and to the best knowledge and belief of the undersigned, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

Date: August 28, 2026

 

  BLACK PEARL EQUITIES, LLC
   
  By:

/s/ Abraham Schwartz

    Name: Abraham Schwartz
    Title: Chief Executive Officer

 

 

  BLACK PEARL EQUITIES II, LLC
   
  By:

/s/ Abraham Schwartz

    Name: Abraham Schwartz
    Title: Chief Executive Officer

 

 

  TORTUGA ACQUISITION SUB, INC.
   
  By:

/s/ Abraham Schwartz

    Name: Abraham Schwartz
    Title: Chief Executive Officer

 

 

  ABRAHAM SCHWARTZ
   
 

/s/ Abraham Schwartz

  Abraham Schwartz

 

 

  SCHNEUR ZALMAN SCHAPIRO
   
 

/s/ Schneur Zalman Schapiro

  Schneur Zalman Schapiro