TruBridge Amends Limited Duration Stockholder Rights Plan, Increasing Threshold To 15%
The Board determined to amend the Rights Plan after having had the opportunity to engage with its stockholders and carefully consider their input as well as the feedback of governance professionals. The Board appreciates the ongoing dialogue with its stockholders and believes the amended Rights Plan continues to position the Board to fulfill its duties by ensuring that it has sufficient time to make informed judgments that are in the best interests of the Company and all of its stockholders.
Under the amended Rights Plan, rights will become exercisable if a person, entity or group acquires beneficial ownership of 15% or more of the outstanding common stock in a transaction not approved by the Board. In the event that the rights become exercisable, each right would entitle its holder (other than the person, entity or group triggering the Rights Plan, whose rights would become void and would not be exercisable) to buy at the exercise price additional shares of common stock having a market value equal to twice the exercise price. The Board may, at its option, redeem all rights for
All other elements of the Rights Plan remain as previously adopted, including a qualifying offer provision, which allows stockholders, under certain circumstances, to demand that the Board call a special meeting to vote on exempting a pending offer from the provisions of the Rights Plan, provided such pending offer meets certain qualifying criteria.
The amendment to the Rights Plan is effective immediately, and the Rights Plan, as amended, will continue to expire on
Details regarding the amended Rights Plan will be included in a Current Report on Form 8-K being filed by the Company with the
About
We are a trusted partner to more than 1,500 healthcare organizations with a broad range of technology‑first solutions that address the unique needs and challenges of diverse communities, promoting equitable access to quality care and fostering positive outcomes. Our industry leading HFMA Peer Reviewed® suite of revenue cycle management (RCM) offerings combine unparalleled visibility and transparency to enhance productivity and support the financial health of healthcare organizations across all care settings.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified generally by the use of forward-looking terminology and words such as "expects," "anticipates," "estimates," "believes," "predicts," "intends," "plans," "potential," "may," "continue," "should," "will" and words of comparable meaning. Without limiting the generality of the preceding statement, all statements in this press release that are not historical facts are forward-looking statements, including statements related to the anticipated benefits and expected consequences of the Rights Plan. We caution investors that any such forward‑looking statements are only predictions reflecting the best judgment of the Company based upon currently available information and are not guarantees of future performance. Certain risks, uncertainties and other factors may cause the Company’s actual results, performance or plans to differ materially from those projected in the forward‑looking statements. Such factors may include risks related to the ability of the Rights Plan to protect stockholders’ interests and maximize value for all stockholders, including that the Rights Plan may not effectively ensure that the Board has sufficient time to make informed judgments that are in the best interests of the Company and its stockholders, and other risk factors described from time to time in our public releases and reports filed with the
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Chief Marketing Officer
tracey.schroeder@trubridge.com
(251) 639-8100
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