Brookdale Senior Living Inc. today announced the pricing of its follow-on public offering of 13,953,489 shares of its common stock at a price of $10.75 per share, raising gross proceeds of $150 million. In connection with the offering, the Company has granted the underwriters of the offering a 30-day option to purchase up to 2,093,023 additional shares of its common stock. Goldman, Sachs & Co., Barclays Capital Inc. and Merrill Lynch & Co. will serve as Joint Book-Running Managers for the offering.
The Company intends to use the net proceeds from the offering to repay the $125 million of indebtedness that is currently outstanding under its credit agreement, and the remainder for working capital and other general corporate purposes.
Subject to customary conditions, the offering is expected to close on June 8, 2009.
The offering is being made pursuant to a shelf registration statement filed with the Securities and Exchange Commission, which became effective on May 22, 2009. A prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. Copies of the prospectus supplement and the accompanying prospectus may be obtained from Goldman, Sachs & Co., 85 Broad Street, New York, NY 10004, Attention: Prospectus Department (212-902-1171); or through Barclays Capital Inc., c/o Broadridge Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717, email: Barclaysprospectus@broadridge.com, toll-free: 1 (888) 603-5847, or through Merrill Lynch & Co., 4 World Financial Center, New York, NY 10080, Attn: Prospectus Department.
About Brookdale Senior Living
Brookdale Senior Living Inc. is a leading owner and operator of senior living communities throughout the United States. The Company is committed to providing an exceptional living experience through properties that are designed, purpose-built and operated to provide the highest-quality service, care and living accommodations for residents. Currently the Company owns and operates independent living, assisted living, and dementia-care communities and continuing care retirement centers, with 547 communities in 35 states and the ability to serve approximately 52,000 residents.
source: yahoo
The Company intends to use the net proceeds from the offering to repay the $125 million of indebtedness that is currently outstanding under its credit agreement, and the remainder for working capital and other general corporate purposes.
Subject to customary conditions, the offering is expected to close on June 8, 2009.
The offering is being made pursuant to a shelf registration statement filed with the Securities and Exchange Commission, which became effective on May 22, 2009. A prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. Copies of the prospectus supplement and the accompanying prospectus may be obtained from Goldman, Sachs & Co., 85 Broad Street, New York, NY 10004, Attention: Prospectus Department (212-902-1171); or through Barclays Capital Inc., c/o Broadridge Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717, email: Barclaysprospectus@broadridge.com, toll-free: 1 (888) 603-5847, or through Merrill Lynch & Co., 4 World Financial Center, New York, NY 10080, Attn: Prospectus Department.
About Brookdale Senior Living
Brookdale Senior Living Inc. is a leading owner and operator of senior living communities throughout the United States. The Company is committed to providing an exceptional living experience through properties that are designed, purpose-built and operated to provide the highest-quality service, care and living accommodations for residents. Currently the Company owns and operates independent living, assisted living, and dementia-care communities and continuing care retirement centers, with 547 communities in 35 states and the ability to serve approximately 52,000 residents.
source: yahoo
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