National Healthcare to redeem all series A convertible preferred stock

By Tali Rackner

Norfolk, Va., Oct. 2 – National Healthcare Corp. plans to redeem all of its outstanding series A convertible preferred stock, according to an 8-K filing with the Securities and Exchange Commission.

The preferred stock will be redeemed at $15.75 per share plus accrued dividends of $0.04 per share on Nov. 3.

Holders have until 5 p.m. on Nov. 2 to convert their preferreds into shares of the company’s common stock. Those who elect to convert will receive 0.24204 shares of common stock for each share of preferred stock.

Computershare Trust Co., NA is the redemption agent.

National HealthCare is a Murfreesboro, Tenn.-based long-term care hospital operator.

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