SELECTIS HEALTH, INC. 8-K

What Happened

• Selectis Health, Inc. announced on May 1, 2026 the closing of a Purchase and Sale Agreement by its wholly owned subsidiaries Global Abbeville Property, LLC and Dodge NH, LLC, selling two skilled nursing facilities in Georgia — Glen Eagle Healthcare and Rehab (Abbeville, 101 beds) and Eastman Healthcare and Rehab (Eastman, 100 beds) — to GA SNF Abbeville GA LLC and GA SNF Eastman GA LLC.
• The aggregate purchase price was $15.7 million (subject to prorations, holdbacks and customary adjustments). Net proceeds at closing, after paying mortgage debt and other liabilities, were approximately $9.0 million, excluding $1.57 million placed into escrow that may be released later unless claims are asserted under the PSA.
• Concurrently, the legacy facility operators transferred all assets and operations to purchaser-controlled operator subsidiaries under an Operations Transfer Agreement; no additional consideration was paid by the new operators for those assigned assets and operations.

Key Details

• Closing date: May 1, 2026.
• Purchase price: $15.7 million aggregate; net cash to sellers ≈ $9.0 million after mortgage payoff and liabilities.
• Escrow: $1.57 million held at closing subject to future indemnity claims by purchaser.
• Financial reporting: Unaudited pro forma condensed consolidated financial information reflecting the disposition and mortgage repayment is filed as Exhibit 99.1 and will be amended to include pro forma balance sheet and statement of operations as of/for Dec 31, 2025.

Why It Matters

• The transaction reduces Selectis Health’s owned real estate footprint by two skilled nursing facilities and generates immediate liquidity (net proceeds and escrows) that were used in part to repay mortgage debt; pro forma financials are provided to show the impact on the company’s balance sheet and results.
• Investors should note potential future cash from escrow releases (subject to indemnity claims) and the operational transition to purchaser-controlled operators, which may affect future revenue and operating metrics tied to these facilities (as reflected in the company’s forthcoming pro forma disclosures).