On December 2, 2019, KKR & Co. Inc. delivered a non-binding proposal to Quorum Health Corporation’s board of directors relating to a recapitalization of the Company and deleveraging transaction. KKR also stated that the best path forward is for the Company to enter into discussions with KKR and other significant stakeholders regarding the definitive terms of the potential transaction, which should include, among other things, (i) improving the current capital structure by amending the Company’s senior secured credit facility and extending its maturity, (ii) taking the Company private, partly through a buy-out of the public shares held by minority holders at a price of $1.00 per share, (iii) equitizing the par value of the senior notes, at the same equity valuation as the buy-out, and (iv) injecting fresh capital by raising new equity from participating note holders.