SELECT MEDICAL HOLDINGS CORP (SEM) Form 8-K — Jul 1, 2026

Select Medical Holdings Corporation announced the consummation of its merger with Stallion MergerSub Corporation, effective as of July 1, 2026. As a result of the transaction, Select Medical has become an indirect wholly-owned subsidiary of Stallion Intermediate Corporation and is no longer a publicly traded entity. Public shareholders received $16.50 in cash for each share of common stock held, totaling an aggregate purchase price of approximately $1.7 billion. The transaction was financed through equity contributions from investors managed by affiliates of Welsh, Carson, Anderson & Stowe, as well as a new $1.0 billion Tranche B-3 term loan under the company’s credit agreement.

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