ATLANTA, GA, May 17, 2023 (GLOBE NEWSWIRE) -- Regional Health Properties, Inc. (the “Company,” “we,” “us” 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 from the NYSE American LLC (the “Exchange”) on May 10, 2023 that the Company was not in compliance with the continued listing standard set forth in Section 1003(a)(ii) of the NYSE American Company Guide (the “Company Guide”). Specifically, this section requires that a listed company have 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. The Company reported shareholders’ equity of approximately $3.7 million as of December 31, 2022, and has had losses from continuing operations and/or net losses in three of its four most recent fiscal years ended December 31, 2022. As a result, the Company has become subject to the procedures and requirements of Section 1009 of the Company Guide and must submit a plan to the Exchange by June 9, 2023 addressing how the Company intends to regain compliance with Section 1003(a)(ii) by November 10, 2024.
