COMPANY EXPECTS TO REGAIN COMPLIANCE
WITH NASDAQ'S MINIMUM BID REQUIREMENT BEFORE
JULY 22, 2024
HOUSTON, 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.
On 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.
There 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.
About Nutex Health Inc.
Headquartered 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.
The 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.
The 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.
Forward-Looking Statements
Certain statements and information included in this press
release constitute "forward-looking statements" within the meaning
of the Private Securities Litigation Act of 1995. When used in this
press release, the words or phrases "will", "will likely result,"
"expected to," "will continue," "anticipated," "estimate,"
"projected," "intend," "goal," or similar expressions are intended
to identify "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements
are subject to certain risks, known and unknown, and uncertainties,
many of which are beyond the control of the Company. Such
uncertainties and risks include, but are not limited to, our
ability to successfully execute our growth strategy, changes in
laws or regulations, including the interim final and final rules
implemented under the No Surprises Act, economic conditions,
dependence on management, dilution to stockholders, lack of
capital, the effects of rapid growth upon the Company and the
ability of management to effectively respond to the growth and
demand for products and services of the Company, newly developing
technologies, the Company's ability to compete, conflicts of
interest in related party transactions, regulatory matters,
protection of technology, lack of industry standards, the effects
of competition and the ability of the Company to obtain future
financing. An extensive list of factors that can affect future
results are discussed in the Annual Report on Form 10-K for the
year ended December 31, 2023
and its Current Report on Form 10-Q for
the periods ended March 31, 2024 under the
heading "Risk Factors" in Part I, Item IA thereof, and other
documents filed from time to time with the Securities and Exchange
Commission. Such factors could materially adversely affect the
Company's financial performance and could cause the Company's
actual results for future periods to differ materially from any
opinions or statements expressed within this press
release.
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SOURCE Nutex Health, Inc.