Regional Health Properties (RHEP) launches Series B preferred stock repurchase plan
Rhea-AI Filing Summary
Regional Health Properties, Inc. reported that its Board of Directors has authorized a stock repurchase plan for up to 500,000 shares of its Series B Preferred Stock. A Special Committee of the Board will oversee the timing, size, and method of these repurchases. Shares may be bought from time to time in the open market, through privately negotiated and block transactions, and under any Rule 10b5-1 trading plan, with purchases conducted in accordance with Rule 10b-18.
The company plans to fund the repurchases using cash on hand. The program does not require Regional Health Properties to buy any specific number of shares and is expected to continue indefinitely until the 500,000-share cap is reached or the Board modifies, suspends, or terminates the program.
Positive
- None.
Negative
- None.
Insights
Regional Health authorizes an open-ended repurchase of up to 500,000 Series B preferred shares.
Regional Health Properties has approved a stock repurchase plan covering up to 500,000 shares of its Series B Preferred Stock. The program permits purchases using cash on hand, indicating the company is willing to deploy existing liquidity to reduce its outstanding preferred equity over time.
Repurchases can occur via open-market trades, privately negotiated deals, block trades, or under Rule 10b5-1 plans, and will follow Rule 10b-18 conditions. The Board’s Special Committee will control the pace and execution, and there is no obligation to buy any shares, so actual impact will depend on future decisions and market conditions.
The program is described as continuing indefinitely until either the 500,000-share limit is reached or the Board changes or ends it. Subsequent company disclosures can clarify how many shares are ultimately repurchased and how the program affects the Series B preferred capital structure.