Press release
NUTEX HEALTH ANNOUNCES THAT IT HAS OBTAINED APPROVAL FROM ITS SHAREHOLDERS TO EFFECT A REVERSE STOCK SPLIT
COMPANY EXPECTS TO REGAIN COMPLIANCE WITH NASDAQ'S MINIMUM BID REQUIREMENT BEFORE JULY 22, 2024 HOUSTON, June 19, 2024 /PRNewswire/ -- Nutex Health Inc.
About this update from Nutex Health Inc.
[{"type":"text","content":"COMPANY EXPECTS TO REGAIN COMPLIANCE WITH NASDAQ'S MINIMUM BID REQUIREMENT BEFORE JULY 22, 2024\nHOUSTON, June 19, 2024 /PRNewswire/ -- Nutex Health Inc. (\"Nutex Health\" or the \"Company\") (NASDAQ: NUTX), a physician-led, technology-enabled integrated healthcare delivery system comprised of 21 state-of-the-art micro hospitals in nine states and primary care-centric, risk-bearing physician networks, announced that during its annual shareholder meeting yesterday, it obtained approval from its shareholders to effect a reverse stock split of between 1-for-2 to 1-for-16. \n\nOn June 14, 2024, the Company received notice from the Nasdaq Stock Market LLC (\"Nasdaq\") that a Nasdaq Hearings Panel had granted the Company an exception until July 22, 2024 to effect a reverse stock split of its common stock once approved by its Board of Directors and the Company's stockholders. The Company expects to regain compliance with NASDAQ's minimum bid requirement before July 22, 2024.\nThere can be no assurance that effecting a reverse stock split will result in compliance with the Minimum Bid Price Requirement and the Company cannot predict the effect that a reverse stock split would have on the market price for shares of its Common Stock.\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 21 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 rel...