# EDGAR Filing Document

**Accession Number:** 0000096793
**File Stem:** 0001641172-25-024195
**Filing Date:** 2025-8
**Character Count:** 20919
**Document Hash:** f3ae2d61194a77f37be0e58cab71f02e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001641172-25-024195.hdr.sgml**: 20250814

**ACCESSION NUMBER**: 0001641172-25-024195

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20250814

**ITEM INFORMATION**: Completion of Acquisition or Disposition of Assets

**ITEM INFORMATION**: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

**ITEM INFORMATION**: Material Modifications to Rights of Security Holders

**ITEM INFORMATION**: Changes in Control of Registrant

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250814

**DATE AS OF CHANGE**: 20250814

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SUNLINK HEALTH SYSTEMS INC
- **CENTRAL INDEX KEY:** 0000096793
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-GENERAL MEDICAL & SURGICAL HOSPITALS, NEC [8062]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 310621189
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-12607
- **FILM NUMBER:** 251221083

**BUSINESS ADDRESS:**
- **STREET 1:** 900 CIRCLE 75 PARKWAY
- **STREET 2:** SUITE 690
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30339
- **BUSINESS PHONE:** 7709337000

**MAIL ADDRESS:**
- **STREET 1:** 900 CIRCLE 75 PARKWAY
- **STREET 2:** SUITE 690
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30339

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** KRUG INTERNATIONAL CORP
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TECHNOLOGY INC
- **DATE OF NAME CHANGE:** 19860803

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** COMANCO INDUSTRIES INC
- **DATE OF NAME CHANGE:** 19710719

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

**Date of report (Date of earliest event reported): August 14, 2025**

**SunLink Health Systems, Inc.**

**(Exact Name of Registrant as Specified in its Charter)**

---

| | | |
|:---|:---|:---|
| **Georgia** | **001-12607** | **31-0621189** |
| **(State or Other Jurisdiction of** | **(Commission** | **(I.R.S. Employer** |
| **Incorporation)** | **File Number)** | **Identification No.)** |

---

**900 Circle 75 Parkway**

**Suite 690**

**Atlanta, Georgia 30339**

**(Address of Principal Executive Offices, and Zip Code)**

**(770) 933-7000**

**(Registrant**'**s telephone number, including area code)**

**Not applicable.**

**(Former Name or Former Address, if Changed Since Last Report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<u>see</u> General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Shares without par value | SSY | NYSE American |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Explanatory Note**

Effective August 14, 2025 (the "Closing Date"), SunLink Health Systems, Inc., a Georgia corporation ("SunLink"), completed its previously announced merger with Regional Health Properties, Inc., a Georgia corporation ("Regional"), pursuant to that certain Amended and Restated Agreement and Plan of Merger, dated as of April 14, 2025, by and between SunLink and Regional (the "Original Merger Agreement"), as amended by that certain Amendment to Amended and Restated Agreement and Plan of Merger, dated as of June 22, 2025, by and between SunLink and Regional (the "Merger Agreement Amendment") (the Original Merger Agreement, as amended by the Merger Agreement Amendment, the "Merger Agreement").

Pursuant to the Merger Agreement, on the Closing Date, SunLink merged with and into Regional, with Regional continuing as the surviving corporation (the "merger").

---

| | |
|:---|:---|
| **Item 2.01** | **Completion of Acquisition or Disposition of Assets** |

---

Effective as of the Closing Date, SunLink completed its previously announced merger with Regional pursuant to the Merger Agreement. Pursuant to the Merger Agreement, on the Closing Date, SunLink merged with and into Regional, with Regional continuing as the surviving corporation.

Pursuant to the Merger Agreement, at the effective time of the merger on the Closing Date (the "Effective Time"), each five shares of common stock, no par value per share, of SunLink ("SunLink common stock") issued and outstanding immediately prior to the Effective Time (other than excluded shares (as defined in the Merger Agreement)) were converted into the right to receive: (i) 1.1330 validly issued, fully paid and nonassessable shares of Regional common stock; and (ii) one validly issued, fully paid and nonassessable share of Regional Series D 8% Cumulative Convertible Redeemable Participating Preferred Shares, no par value per share ("Regional Series D preferred stock"). Holders of SunLink common stock will receive cash (without interest) in lieu of fractional shares of Regional common stock or Regional Series D preferred stock in accordance with the terms of the Merger Agreement. The total aggregate consideration payable in the merger was approximately 1,595,400 shares of Regional common stock and approximately 1,408,120 shares of Regional Series D preferred stock. Descriptions of the Regional common stock and the Regional Series D preferred stock were previously included in the Joint Proxy Statement/Prospectus filed by SunLink with the Securities and Exchange Commission (the "SEC") on June 25, 2025, and are incorporated into this Item 2.01 by reference.

The foregoing descriptions of the merger and the Merger Agreement do not purport to be complete and are qualified in their entirety by reference to the Original Merger Agreement and the Merger Agreement Amendment, copies of which are filed as Exhibit 2.1 and Exhibit 2.2, respectively, to this Current Report on Form 8-K and incorporated into this Item 2.01 by reference.

The information set forth in the Explanatory Note of this Current Report on Form 8-K is incorporated herein by reference.

---

| | |
|:---|:---|
| **Item 3.01** | **Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing** |

---

SunLink notified the NYSE American LLC ("NYSE American") that the merger would be effective at 5:00 p.m., Eastern Time, on August 14, 2025. It is anticipated that, on or about August 15, 2025, the NYSE American will file with the SEC a Notification of Removal from Listing and/or Registration Under Section 12(b) of the Securities and Exchange Act of 1934, as amended (the "Exchange Act"), on Form 25 to remove the SunLink common stock from listing on the NYSE American and withdraw the registration of the SunLink common stock under Section 12(b) of the Exchange Act.

Following the effectiveness of such Form 25, SunLink (or Regional, as its successor by merger) intends to file with the SEC certifications on Form 15 under the Exchange Act requesting that the shares of SunLink common stock be deregistered and that SunLink's reporting obligations under Sections 13 and 15(d) of the Exchange Act be suspended.

The information set forth in the Explanatory Note and Item 2.01 of this Current Report on Form 8-K is incorporated herein by reference.

---

| | |
|:---|:---|
| **Item 3.03** | **Material Modification to Rights of Security Holders** |

---

At the Effective Time, shareholders of SunLink ceased to have any rights as shareholders of SunLink other than the right to receive the merger consideration in accordance with the Merger Agreement.

The information set forth in the Explanatory Note, Item 2.01, Item 3.01 and Item 5.01 of this Current Report on Form 8-K is incorporated herein by reference.

---

| | |
|:---|:---|
| **Item 5.01** | **Changes in Control of Registrant** |

---

At the Effective Time, SunLink merged with and into Regional and, accordingly, a change in control of SunLink occurred.

The information set forth in the Explanatory Note, Item 2.01, Item 3.01 and Item 3.03 of this Current Report on Form 8-K is incorporated herein by reference.

---

| | |
|:---|:---|
| **Item 5.02** | **Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers** |

---

Pursuant to the terms of the Merger Agreement, as of the Effective Time:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Robert M. Thornton, Jr., Dr. Steven
 J. Baileys, Gene E. Burleson, C. Michael Ford and Mark J. Stockslager resigned as members of the board of directors of SunLink, and
 from all committees of such board on which they served. Such resignations were not the result, in whole or in part, of any disagreement
 with SunLink or SunLink's management;

(ii) (a) Robert M. Thornton, Jr., resigned as the President
 and Chief Executive Officer of Sunlink; (b) Mark J. Stockslager resigned as the Chief Financial Officer and Principal Accounting
 Officer of SunLink; and (c) Sheila Brockman resigned as Vice President of SunLink and Chief Executive Officer of Southern Health
 Corporation of Houston, Inc.; and

(iii) Robert M. Thornton, Jr.: (a) waived and released any
 and all rights under that certain Amended and Restated Employment Agreement, dated July 1, 2005, by and among SunLink, SunLink Healthcare,
 LLC and Mr. Thornton (the "Employment Agreement"), including, but not limited to (x) the right to receive salary, benefits,
 bonuses, or other compensation from SunLink or SunLink Healthcare, LLC, (y) any and all severance and change of control benefits,
 whether arising prior to, after, in connection with or as a result of the merger, and (z) any right to bring a claim for breach of
 the Employment Agreement; and (b) agreed that the Employment Agreement shall be deemed terminated and of no further effect with respect
 to any rights to compensation, severance or change in control benefits.

The information set forth in the Explanatory Note and Item 2.01 of this Current Report on Form 8-K is incorporated herein by reference.

---

| | |
|:---|:---|
| **Item 8.01** | **Other Events** |

---

On August 14, 2025, Regional issued a press release announcing the completion of the merger, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

---

| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

---

(d) Exhibits

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 2.1\* | [Amended and Restated Agreement and Plan of Merger, by and between Regional Health Properties, Inc. and SunLink Health Systems, Inc., dated as of April 14, 2025 (incorporated by reference to Exhibit 2.1 to SunLink's Current Report on Form 8-K filed with the SEC on April 18, 2025).](https://www.sec.gov/Archives/edgar/data/96793/000095017025055611/ssy-ex2_1.htm) |
| 2.2 | [Amendment to Amended and Restated Agreement and Plan of Merger, dated as of June 22, 2025, by and between Regional Health Properties, Inc. and SunLink Health Systems, Inc. (incorporated by reference to Exhibit 2.1 to SunLink's Current Report on Form 8-K filed with the SEC on June 23, 2025).](https://www.sec.gov/Archives/edgar/data/96793/000095017025088849/ssy-ex2_1.htm) |
| 99.1 | [Press Release, dated August 14, 2025.](ex99-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

\* Certain schedules omitted pursuant to Item 601(b)(2) of Regulation S-K. SunLink agrees to furnish supplementally a copy of any omitted schedule to the SEC upon request; provided, however, that SunLink may request confidential treatment pursuant to Rule 24b-2 of the Exchange Act for any schedules or exhibits so furnished.

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
|  | **SUNLINK HEALTH SYSTEMS, INC.**  |
|  | <br> By: Regional Health Properties, Inc., its successor |
| Date: August 14, 2025 | */s/ Brent Morrison* |
|  | Brent Morrison |
|  | Chief Executive Officer and President |

---

## Exhibit 99.1

**Exhibit 99.1**

![](ex99-1_001.jpg)

**Regional Health Properties, Inc. and SunLink Health Systems, Inc. Complete Merger**

**Atlanta, GA (August 14, 2025)** - Regional Health Properties, Inc. ("Regional") (OTCQB: RHEP) (OTCQB: RHEPA) today announced the completion of the merger of SunLink Health Systems, Inc. ("SunLink") with and into Regional, with Regional surviving the merger as the surviving corporation, effective August 14, 2025.

"This merger marks a transformative step for Regional Health Properties. By integrating SunLink's pharmacy and healthcare services with our real estate platform, we're creating a vertically integrated company poised for growth, improved efficiency, and long-term value creation," said Brent S. Morrison, Chairman and Chief Executive Officer of Regional.

At the closing of the merger, each five shares of SunLink common stock were converted into the right to receive (i) 1.1330 shares of Regional common stock and (ii) one share of Regional Series D 8% Cumulative Convertible Redeemable Participating Preferred Shares ("Regional Series D preferred stock"). The total aggregate consideration payable in the merger was approximately 1,595,400 shares of Regional common stock and approximately 1,408,120 shares of Regional Series D preferred stock.

The combined company will operate under the name Regional Health Properties, Inc. and trade under Regional's ticker symbols on the OTCQB.

The combined company will be led by Brent S. Morrison, as President and Chief Executive Officer of Regional. In addition to Mr. Morrison, the Regional leadership team includes Mark J. Stockslager, as Chief Financial Officer of Regional (and formerly the Chief Financial Officer of SunLink), and Robert M. Thornton, Jr., as Executive Vice President – Corporate Strategy of Regional (and formerly the Chief Executive Officer of SunLink).

The Board of Directors of Regional will be composed of Brent S. Morrison, Kenneth W. Taylor and Steven L. Martin, who continue from Regional's Board of Directors, Dr. Steven J. Baileys and Gene E. Burleson, who continue from SunLink's Board of Directors, and Scott Kellman and C. Christian Winkle, who joined the Board at the closing of the merger.

**About Regional Health Properties, Inc.**

Regional Health Properties, Inc., headquartered in Atlanta, Georgia, is a self-managed healthcare real estate investment company that invests primarily in real estate purposed for senior living and long-term care. For more information, visit https://www.regionalhealthproperties.com.

**ADDITIONAL INFORMATION**

INVESTORS ARE URGED TO READ THE TENDER OFFER STATEMENT ON SCHEDULE TO FILED WITH THE SEC ON JULY 18, 2025 REGARDING A PROPOSED TENDER OFFER, AS WELL AS THE SCHEDULE 14D-9 FILED BY REGIONAL ON AUGUST 1, 2025 AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, TOGETHER WITH ALL AMENDMENTS AND SUPPLEMENTS TO THOSE DOCUMENTS, AS THEY WILL CONTAIN IMPORTANT INFORMATION.

**Forward-Looking Statements**

This press release contains forward-looking statements made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements can often, but not always, be identified by the use of words like "believe", "continue", "pattern", "estimate", "project", "intend", "anticipate", "expect" and similar expressions or future or conditional verbs such as "will", "would", "should", "could", "might", "can", "may", or similar expressions. These forward-looking statements include, but are not limited to, statements relating to the expected benefits of the merger between Regional and SunLink.

These forward-looking statements are subject to significant risks, assumptions and uncertainties that may cause results to differ materially from those set forth in forward-looking statements, including, among other things:

● the risk that the businesses of Regional and SunLink will not be integrated successfully or such integration may be more difficult, time-consuming or costly than expected;

● expected revenue synergies and cost savings from the merger may not be fully realized or realized within the expected time frame;

● revenues following the merger may be lower than expected;

● customer, vendor and employee relationships and business operations may be disrupted by the merger;

● the costs and effects of litigation and the possible unexpected or adverse outcomes of such litigation;

● the ability of Regional meet the initial or continued listing requirements or rules of the OTCQB or a national securities exchange, as applicable;

● possible changes in economic and business conditions;

● the impacts of epidemics, pandemics or other infectious disease outbreaks;

● the existence or exacerbation of general geopolitical instability and uncertainty;

● possible changes in monetary and fiscal policies, and laws and regulations;

● competitive factors in the healthcare industry;

● Regional's dependence on the operating success of its operators;

● the amount of, and Regional's ability to service, its indebtedness;

● covenants in Regional's debt agreements that may restrict its ability to make investments, incur additional indebtedness and refinance indebtedness on favorable terms;

● the effect of increasing healthcare regulation and enforcement on Regional's operators and the dependence of Regional's operators on reimbursement from governmental and other third-party payors;

● the relatively illiquid nature of real estate investments;

● the impact of litigation and rising insurance costs on the business of Regional's operators;

● the effect of Regional's operators declaring bankruptcy, becoming insolvent or failing to pay rent as due;

● the ability of any of Regional's operators in bankruptcy to reject unexpired lease obligations and to impede its ability to collect unpaid rent or interest during the pendency of a bankruptcy proceeding and retain security deposits for the debtor's obligations;

● Regional's ability to find replacement operators and the impact of unforeseen costs in acquiring new properties; and

● other risks and factors identified in (i) Regional's cautionary language included under the headings "Statement Regarding Forward-Looking Statements" and "Risk Factors" in the Regional Annual Report, and other documents subsequently filed by Regional with the SEC and (ii) SunLink's cautionary language included under the headings "Forward-Looking Statements" and "Risk Factors" in SunLink's Annual Report on Form 10-K for the year ended June 30, 2024, and other documents subsequently filed by SunLink with the SEC.

These forward-looking statements speak only as of the date they are made and Regional does not undertake any obligation to update any forward-looking statement, whether written or oral, relating to the matters discussed in this press release. In addition, Regional's past results of operations do not necessarily indicate its anticipated future results.

**Regional Contact**

Brent Morrison, CFA<br> Chief Executive Officer & President<br> Regional Health Properties, Inc.<br> Tel (404) 823-2359<br> <u>Brent.morrison@regionalhealthproperties.com</u>