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8-K - FORM 8-K - Foundation Healthcare, Inc. | c17925e8vk.htm |
EX-99.1 - EX-99.1 - Foundation Healthcare, Inc. | c17925exv99w1.htm |
Exhibit 99.2
Graymark Announces 1-for-4 Reverse Stock Split
OKLAHOMA CITY, May 25, 2011 Graymark Healthcare, Inc. (NASDAQ: GRMH), the nations second
largest provider of diagnostic sleep services and an innovator in comprehensive care for
obstructive sleep apnea (OSA), reported that its Board of Directors approved a 1-for-4 reverse
stock split, which will be effective after the close of the market on June 3, 2011.
The 1-for-4 reverse stock split will automatically convert all shares of the companys stock issued
and outstanding to one new share of common stock, par value $0.0001 per share. The reverse stock
split, which was approved by the companys shareholders on February 1, 2011, will reduce the number
of shares of the companys outstanding common stock from approximately 34.1 million, as of the
filing date of the companys most recent Quarterly Report on Form 10-Q, to approximately 8.5
million.
No fractional shares will be issued in connection with the reverse stock split. The company will
round up to the next whole share in lieu of issuing factional shares that would have been issued in
the reverse split. For a 20 trading day period immediately following the reverse split, Graymarks
common stock will trade on a post-split basis on the NASDAQ Capital Market under the trading symbol
GRMHD as an interim symbol to denote the reverse split. After this 20 trading day period,
Graymarks common stock will resume trading on the NASDAQ Capital Market under the symbol GRMH.
In addition, the common stock will also trade under a new CUSIP number effective June 6, 2011.
Computershare is the companys transfer agent and will be acting as the exchange agent for the
purpose of implementing any exchange of stock certificates in connection with the reverse split.
Stockholders who have existing stock certificates will receive instructions from the transfer
agent. Stockholders who hold their shares in brokerage accounts or street name are not required
to take any action to effect the exchange of their shares.
Further information on the logistics regarding the reverse split can be obtained by contacting
Computershare at 1-800-884-4225.
About Graymark Healthcare
Headquartered in Oklahoma City, Okla., Graymark Healthcare, Inc. (NASDAQ: GRMH) is the nations
second largest provider of sleep management solutions. In addition to diagnosing and treating over
80 sleep disorders, the company specializes in comprehensive care for Obstructive Sleep Apnea
(OSA). Graymark offers its services through 98 sleep laboratories throughout the United States,
including standalone or IDTF facilities, rural outreach sites and hospital or provider agreements.
For more information, visit www.graymarkhealthcare.com.
Important Cautions Regarding Forward-Looking Statements
This press release may contain forward-looking statements that are based on the companys current
expectations, forecasts and assumptions. Forward-looking statements involve risks and uncertainties
that could cause actual outcomes and results to differ materially from the companys expectations,
forecasts and assumptions. These risks and uncertainties include risks and uncertainties not in the
control of the company, including, without limitation, the current economic climate and other risks
and uncertainties, including those enumerated and described in the companys filings with the
Securities and Exchange Commission, which filings are available on the SECs website at
www.sec.gov. Unless otherwise required by law, the company disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise.
Company Contact:
Graymark Healthcare, Inc.
Stanton Nelson
Chairman and CEO
Tel 405-601-5300
Graymark Healthcare, Inc.
Stanton Nelson
Chairman and CEO
Tel 405-601-5300
Investor Relations:
Liolios Group, Inc.
Scott Liolios or Cody Slach
Tel 949-574-3860
info@liolios.com
Liolios Group, Inc.
Scott Liolios or Cody Slach
Tel 949-574-3860
info@liolios.com