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 and Exchange Act of 1934
Date of Report (Date of earliest event reported) December 16, 2016
SUNLINK HEALTH SYSTEMS, INC.
(Exact Name Of Registrant As Specified In Charter)
| Ohio | 1-12607 | 31-0621189 | ||
| (State or other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) | ||
| 900 Circle 75 Parkway, Suite 1120, Atlanta, Georgia | 30339 | |||
| (Address of principal executive offices) | (Zip Code) | |||
Registrant’s telephone number, including area code (770) 933-7000
(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 (see 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)) |
Item 1.01 Entry into a Material Definitive Agreement
On December 16, 2016, a subsidiary of SunLink Health Systems, Inc. (“SunLink” or the “Company”) sold a medical office building complex, comprised of land and three buildings in Ellijay, GA for $4,900,000. The Company expects to recognize a pre-tax gain on the sale of the property of approximately $2,700,000 and a pre-tax loss on the early extinguishment of the property’s related debt of approximately $300,000 in its second fiscal quarter ending December 31, 2016. The Company expects net proceeds from the sale of approximately $2,600,000. The proceeds will be retained for working capital and general corporate purposes.
Item 9.01 Financial Statements and Exhibits.
d. Exhibits. The following exhibits are filed with this report:
Exhibit 99.1 – SunLink Health Systems, Inc. Press Release dated December 19, 2016.
Exhibit 99.2 – Purchase Agreement dated November 1, 2016 between Global Medical REIT, Inc. and SunLink Healthcare Professional Property, LLC.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
| SUNLINK HEALTH SYSTEMS, INC. | ||||||||
| By: | /s/ Mark J. Stockslager | |||||||
| Name: | Mark J. Stockslager | |||||||
| Title: | Chief Financial Officer | |||||||
Dated: December 22, 2016
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