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Regional Health Properties Inc | 10.875% Series A Cumulative Redeemable Preferred Stock (ADK.PRA)

Prospectus excerpt:  We are offering to the public up to 450,000 shares of our 10.875% Series A Cumulative Redeemable Preferred Stock, which we refer to in this prospectus supplement as the Series A Preferred Stock. The Series A Preferred Stock is an original issuance.

We will pay quarterly cumulative dividends on the Series A Preferred Stock from, but excluding, the date of original issuance in the amount of $2.7187 per share each year, which is equivalent to 10.875% of the $25.00 liquidation preference per share. The dividend rate will increase under certain circumstances as described in this prospectus supplement. Holders of the Series A Preferred Stock generally will have no voting rights but will have limited voting rights under certain circumstances as described in this prospectus supplement.

We may not redeem the Series A Preferred Stock before December 1, 2017, except we are required to redeem the Series A Preferred Stock following a "Change of Control," as defined in this prospectus supplement. On and after December 1, 2017, we may, at our option, redeem the Series A Preferred Stock, in whole or in part, by paying $25.00 per share, plus any accrued and unpaid dividends to the redemption date. The Series A Preferred Stock has no stated maturity, is not subject to any sinking fund or mandatory redemption, except following a Change of Control.

Full Prospectus PDF », ADK Page »

Series:A
Alternate symbology:ADK-A, ADK-PA, ADKprA
Redeemable?:Yes
Call Date:12/1/2017 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:450,000
Liquidation Preference:$25
Original Coupon:10.88%
Pay Period:Quarterly
Pay Dates:31-Mar, 30-Jun, 30-Sep, 31-Dec
CDx3 Compliance Rating: Learn ADK.PRA's Rating
AdCare Health Systems, through its subsidiaries, is a self-managed real estate investment company that invests primarily in real estate purposed for long-term care and senior living. Co.'s business primarily consists of leasing and subleasing such facilities to third-party tenants, which operate the facilities. As of Dec 31 2016, Co. owned, leased, or managed for third parties 29 facilities primarily in the Southeast. Co.'s facilities provide a range of healthcare and related services to patients and residents, including skilled nursing and assisted living services, social services, and other rehabilitative and healthcare services for both long-term and short-stay patients and residents.

Preferred: ADK.PRA


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Name: 
Regional Health Properties Inc
Website: 
www.adcarehealth.com
Sector: 
Hospital & Medical Practitioners

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