Notice of Redemption of Series A Convertible Preferred Stock
National HealthCare Corporation Provides Notice of Redemption of Series A Convertible Preferred Stock
Company to redeem all outstanding shares of Series A Convertible Preferred Stock
MURFREESBORO, TN – National HealthCare Corporation (NYSE MKT: NHC), the nation’s oldest publicly traded long-term health care company, announced today that it will redeem all outstanding shares of its Series A Convertible Preferred Stock (the “Preferred Stock”) on November 3, 2015 (“Redemption Date”). The Preferred Stock (NYSE MKT: NHC.PRA) has a CUSIP number of 635906 209. The Preferred Stock, issued in conjunction with NHC’s 2007 acquisition of National Health Realty, Inc., will be redeemed for cash at a redemption price of $15.75 per share, plus an accrued dividend of $0.04 per share, for a total of $15.79 per share. A Notice of Redemption has been sent to all holders of Preferred Stock. As of the Redemption Date, the Preferred Stock will no longer be deemed outstanding, and all rights with respect to such stock will cease and terminate, except the right of holders to receive payment of the Redemption Price, without interest.
In lieu of redemption, at any time prior to 5:00 p.m. (EDT) on November 2, 2015, holders of the Preferred Stock may convert any or all of their shares into shares of the Company’s common stock. The holders electing to convert their Preferred Shares will receive 0.24204 shares of common stock for each Preferred Share, together with the cash payable with respect to fractional shares. View as PDF