Sign in Subscribe
Cybernet Data Systems Inc.

Capital Senior Living Shareholders Approve Amended Investment Agreement and Rights Offering

Strategic Insights

— 1 min read

Capital Senior Living Corporation, a leading operator of senior living communities in the United States, announced that its shareholders have approved the amended investment agreement with Conversant Capital, which will provide up to $154.8 million to address the company's liquidity needs. The shareholders also approved a rights offering, which will allow existing stockholders to purchase additional shares of common stock at $30 per share. The expiration date for the rights offering is October 27, 2021. The company's CEO, Kimberly Lody, expressed her gratitude to shareholders for their support and stated that the amended transactions will provide the necessary capital to stabilize the company and position it for future growth.

Key Takeaways:

  • Capital Senior Living Corporation's shareholders have approved the amended investment agreement with Conversant Capital, which will provide up to $154.8 million in financing.
  • The shareholders also approved a rights offering, allowing existing stockholders to purchase additional shares of common stock at $30 per share.
  • The expiration date for the rights offering is October 27, 2021.
  • The amended transactions are expected to provide the necessary capital to stabilize the company and position it for future growth.
  • The company's CEO, Kimberly Lody, has expressed her gratitude to shareholders for their support.
  • Capital Senior Living operates 75 communities with nearly 7,000 residents across 18 states.
  • The company offers a range of senior living services, including independent living, assisted living, and memory care.

Statistics:

  • Up to $154.8 million in financing will be provided through the amended investment agreement with Conversant Capital.
  • The rights offering will allow existing stockholders to purchase 1.1 shares of common stock for each share of common stock they held as of September 10, 2021.
  • The expiration date for the rights offering is October 27, 2021.
  • Capital Senior Living operates 75 communities with nearly 7,000 residents across 18 states.
  • The company has a total of 1,196,085 shares of common stock outstanding.

Sources:

  • Capital Senior Living Corporation press release dated October 22, 2021.
  • Form 8-K filed with the Securities and Exchange Commission on October 27, 2021.
  • Capital Senior Living Corporation website.
  • Conversant Capital website.

Read more