Recent Updates — GBCS

Selectis Health was acquired by Black Pearl Equities II via a merger with Tortuga Acquisition Sub, effective October 5, 2026. Shareholders received $5.75 per share in cash, totaling approximately $17.6 million. The transaction was funded by $18.2 million in term loans from Milrose Capital and SCG Experts Corp., which Selectis now owes at a fixed 5.0% interest rate maturing August 2031. Directors Clifford Neuman, Kent Lund, Richard Huebner, and Interim CFO Krystal Eckhart departed, replaced by Abraham Schwartz and Zalman Schapiro. The company's shares will cease trading on the OTCQB market as it prepares to deregister with the SEC. Selectis Health operates in the healthcare sector.

Selectis Health, Inc. completed a tender offer by Black Pearl Equities II to acquire all outstanding shares at $5.75 per share in cash. The offer expired on August 31, 2026, with 2,789,027 shares (approximately 90.93% of outstanding stock) validly tendered. Black Pearl funded the approximately $17.6 million acquisition price and related expenses through an $18.2 million credit agreement with Milrose Capital and SCG Experts Corp., bearing interest at 5.0% per annum. Upon completion, Selectis will become a wholly owned subsidiary of Black Pearl, its shares will be delisted from the OTCQB market, and reporting obligations will terminate via Form 15. Concurrently, Lance Baller resigned as a director, Krystal Eckhart stepped down as Interim CEO (remaining as CFO), and Abraham Schwartz and Zalman Schapiro were appointed to the Board. Selectis Health operates skilled nursing, assisted living, and independent living facilities in Arkansas and Oklahoma.