Selectis Health Completes $5.75/Share Acquisition by Black Pearl; $18.2M Debt Financing and Board Overhaul Disclosed
GBCS has more than doubled off its 52-week low of $0.405 on light trading volume (0.1× avg).
Summary
Black Pearl completed its $5.75/share tender offer for Selectis Health with 90.93% of shares tendered, funded by an $18.2M term loan. Board and management changes took effect September 1, and the company will delist from OTCQB.
Key Events · M&A and Partnerships · GBCS
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Tender Offer Completed at $5.75/Share
2,789,027 shares (90.93% of outstanding) were validly tendered and accepted for payment at $5.75 per share in cash. Remaining shares will be converted at the same price via a short-form merger without a stockholder vote.
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$18.2M Term Loan Funds Acquisition
Milrose Capital ($10.02M) and SCG Experts Corp. ($8.20M) provided term loans at 5.0% fixed interest, maturing August 28, 2031. Monthly principal and interest payments of $230,855.71 (Term Loan A) and $188,881.95 (Term Loan B) begin September 1, 2027.
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Board and Management Overhaul
Lance J. Baller resigned from the board effective September 1, 2026. Abraham Schwartz (CEO of Black Pearl) and Zalman Schapiro (principal of Black Pearl) were appointed as directors. Krystal Eckhart resigned as Interim CEO but continues as Interim CFO.
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Delisting and SEC Deregistration Planned
Shares will no longer be quoted on OTCQB. The company intends to file Form 15 to terminate registration under Section 12(g) and suspend reporting obligations under Sections 13(a) and 15(d) of the Exchange Act.
Analysis · GBCS · Real Estate & Construction
Black Pearl's acquisition of Selectis Health is now complete, with 90.93% of shares tendered at $5.75 per share. The deal was funded through an $18.2 million term loan from Milrose Capital and SCG Experts Corp. at 5.0% interest, maturing in 2031. The new owners immediately replaced the board — Lance Baller resigned, while Abraham Schwartz and Zalman Schapiro of Black Pearl took seats. Interim CEO Krystal Eckhart stepped down but remains CFO. The company will delist from OTCQB and terminate SEC reporting. For remaining shareholders, the $5.75 cash payout is locked in; the merger will convert all untendered shares at the same price without a stockholder vote.
How filings like this one have moved
In the 30 days to Sep 10, 2026, 35.7% of the 1838 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, GBCS was trading at $5.74 on OTC in the Real Estate & Construction sector, with a market capitalization of approximately $17.6M. The 52-week trading range was $0.41 to $5.74. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.