Merger
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SunLink Health Systems Receives NYSE American Notice of Delisting Concern
SunLink Health Systems received a deficiency letter from NYSE American for failing to hold its annual stockholder meeting. While its stock will continue trading, it will be flagged with a “.BC” indicator. This issue is unlikely to affect SunLink’s proposed merger with Regional Health Properties, scheduled for a shareholder vote soon. SunLink must hold its annual meeting by June 30, 2026, to regain full compliance if the merger is terminated.
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Dr. Ashley’s Limited and Impact BioMedical Inc. to Merge Strategically
On June 23, 2025, Dr Ashleys Limited and Impact BioMedical Inc. announced a merger deal. Dr. Ashleys will acquire Impact BioMedical through a reverse merger, creating a new entity listed on the NYSE American. This strategic alliance merges Impact BioMedical’s innovative patents with Dr Ashleys’ resources and global reach, aiming to expedite the development of impactful therapies and expand global market access for biomedical advancements.
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Logan Ridge Adjusts Special Meeting Date to Encourage “FOR” Votes on Merger
Logan Ridge Finance Corporation (LRFC) announced the rescheduling of its special stockholder meeting regarding the proposed merger with Portman Ridge Finance Corporation (PTMN) to June 20, 2025. Early votes indicate strong support for the merger. Proxy advisors ISS and Glass Lewis recommend that LRFC shareholders vote “FOR” the deal. Shareholders can find instructions on how to vote in the amended joint proxy statement.
