PACS Group, Inc. (PACS) Gains NYSE Extension Amid Financial Restatements, Projects Record H1 Revenue

Company Overview - PACS Group, Inc. is a leading post-acute care provider operating 316 facilities across 17 states, with over 32,000 skilled nursing beds and 2,400 assisted living beds, focusing on quality care [2] - The company has expanded rapidly since Q2 2024, adding 96 facilities to its portfolio [2] Financial Performance - As of June 30, PACS reported an occupancy rate of 88.9%, significantly higher than the industry average of 78% [3] - The company has cash reserves of $294.2 million, nearly double the levels at the end of 2024 [3] - Management projects record revenue and adjusted EBITDA for the first half of 2025 once financial filings are complete [3] Regulatory and Governance Issues - The New York Stock Exchange extended PACS's trading period to November 19, 2025, allowing more time for the company to complete financial restatements and SEC filings [3] - PACS is cooperating with an independent Audit Committee investigation into past financial matters [3] - Leadership changes occurred with the resignation of CFO Derick Apt after an internal policy investigation, and a former CFO has been appointed as interim [4]