Press release
NUTEX HEALTH ANNOUNCES 180-DAY EXTENSION TO REGAIN COMPLIANCE WITH NASDAQ MINIMUM BID PRICE REQUIREMENT
HOUSTON, Nov. 27, 2023 /PRNewswire/ -- Nutex Health Inc. ("Nutex Health" or the "Company") (NASDAQ: NUTX), a physician-led, technology-enabled integrated
About this update from Nutex Health Inc.
[{"type":"text","content":"HOUSTON, Nov. 27, 2023 /PRNewswire/ -- Nutex Health Inc. (\"Nutex Health\" or the \"Company\") (NASDAQ: NUTX), a physician-led, technology-enabled integrated healthcare delivery system comprised of 22 state-of-the-art micro hospital facilities in 8 states and primary care-centric, risk-bearing physician networks, today announced that it has received a letter from Nasdaq granting it an additional 180-day extension, or until May 20, 2024, to evidence compliance with Nasdaq's $1.00 minimum bid requirement.\n\nThe Company can cure this deficiency if the closing bid price of its shares of Common Stock is $1.00 per share or higher for at least 10 consecutive business days during the additional compliance period. The Company intends to regain compliance with the minimum bid price requirement on or before May 20, 2024.\nNutex Health will consider all available options to resolve the deficiency, including a reverse stock split, if necessary. If the minimum bid price is not achieved within the next 180 days, Nutex Health has already received shareholder approval to execute a reverse stock split and will do so at least 10 business days prior to May 20, 2024.\nAbout Nutex Health Inc.\nHeadquartered in Houston, Texas and founded in 2011, Nutex Health Inc. (NASDAQ: NUTX) is a healthcare management and operations company with two divisions: a Hospital Division and a Population Health Management Division.\nThe Hospital Division owns, develops and operates innovative health care models, including micro-hospitals, specialty hospitals, and hospital outpatient departments (HOPDs). This division owns and operates 22 facilities in 8 states.\nThe Population Health Management division owns and operates provider networks such as Independent Physician Associations (IPAs). Through our Management Services Organization (MSO), we provide management, administrative and other support services to our affiliated hospitals and physician groups. Our cloud-based proprietary technology platform aggregates clinical and claims data across multiple settings, information systems and sources to create a holistic view of patients and providers, allowing us to deliver greater quality care more efficiently.\nForward-Looking Statements\nCertain statements and information included in this press release constitute \"forward-looking statements\" within the meaning of the Privat...