The all-cash tender offer targets an eight-facility senior care operator and is expected to close in the third quarter, contingent on a 70% share tender.

June 25, 2026

Selectis Health, Inc. has agreed to be acquired by Black Pearl Equities in an all-cash transaction valuing the senior care operator at $5.75 per share, the company announced on June 23.

Deal Terms

Under the definitive merger agreement, Black Pearl, a New York investment group, will launch a cash tender offer to purchase any and all outstanding shares of Selectis common stock at $5.75 each, net to the seller and subject to applicable withholding. Selectis, based in Denver and traded over the counter under the ticker GBCS, expects the offer to begin within ten business days.

After the tender offer closes, a Black Pearl merger subsidiary will combine with Selectis, leaving Selectis as the surviving company and a wholly owned subsidiary of the buyer. The companies plan to complete that step as a short-form merger under Utah corporate law, a structure that would not require a vote of Selectis stockholders.

Path To Closing

The deal carries no financing contingencies and is expected to close in the third quarter of 2026. Completion depends on several conditions, including:

• the valid tender of at least 70 percent of outstanding Selectis shares;
• clearance from regulators; and
• other customary closing terms.

The Selectis board approved the agreement unanimously and concluded that the offer and merger serve the best interests of the company and its shareholders.

Leadership Comments

Krystal Echart, the interim chief executive and chief financial officer of Selectis, said the agreement gives shareholders immediate and certain cash value at a meaningful premium, and credited the strength of the company’s portfolio and staff. She framed the combination with Black Pearl as a way to support continued growth while maintaining care for residents.

Abraham Schwartz, chief executive and president of Black Pearl, said his firm’s interest in Selectis reflected respect for the business and its people, and thanked the Selectis board for its cooperation.

About The Companies

Selectis owns and operates eight skilled nursing, assisted living, and independent living properties in Arkansas and Oklahoma, drawing reimbursement from Medicare, Medicaid, and private pay. Black Pearl, headquartered in Brooklyn, describes itself as an investment, advisory, and consulting firm focused on healthcare.

Next Steps

The tender offer has not yet started. Selectis plans to file a recommendation statement on Schedule 14D-9, and Black Pearl will file a tender offer statement on Schedule TO, each laying out terms for shareholders. Pearson Butler is advising Selectis on legal matters, and Olshan Frome Wolosky is advising Black Pearl.