Regional Health Properties, Inc. Announces Receipt of Acceptance Letter from NYSE American

ATLANTA, GA, Aug. 07, 2023 (GLOBE NEWSWIRE) -- Regional Health Properties, Inc. (the “Company,” “we” or “our”) (NYSE American: RHE) (NYSE American: RHE-PA), a self-managed healthcare real estate investment company that invests primarily in real estate purposed for senior living and long-term care, announced today that the Company received a notice (the “Acceptance Letter”) from the NYSE American LLC (the “Exchange”) on August 1, 2023 that the Company’s plan to regain compliance with the Exchange’s continued listing standards had been accepted.

The Company previously announced that it had received notices from the Exchange on May 10, 2023 and June 29, 2023 that the Company was not in compliance with the continued listing standards set forth in Sections 1003(a)(ii) and 1003(a)(i), respectively, of the NYSE American Company Guide (the “Company Guide”). Sections 1003(a)(ii) and 1003(a)(i) of the Company Guide require an issuer to have (a) shareholders’ equity of $4.0 million or more if it has reported losses from continuing operations and/or net losses in three of its four most recent fiscal years and (b) shareholders’ equity of $2.0 million or more if it has reported losses from continuing operations and/or net losses in two of its three most recent fiscal years, respectively. As previously disclosed, the Company submitted a plan of compliance to the Exchange on June 9, 2023 addressing how the Company intends to regain compliance with the Exchange’s continued listing standards by November 10, 2024.

The Exchange has granted the Company a plan period through November 10, 2024 to regain compliance with the continued listing standards. If the Company is not in compliance with the continued listing standards by that date or if the Company does not make progress consistent with the plan during the plan period, the Exchange may commence delisting procedures.

The Company’s Common Stock and Series A Redeemable Preferred Shares will continue to trade under the symbols “RHE” and “RHE-PA,” respectively, but will each have an added designation of “.BC” to indicate that the Company is not in compliance with the Exchange’s continued listing standards.

About Regional Health Properties

Regional Health Properties, Inc., a Georgia corporation, is a self-managed healthcare real estate investment company that invests primarily in real estate purposed for senior living and long-term care. For more information, visit www.regionalhealthproperties.com.