After raising $154.8 million in transactions with Conversant Capital, one of the few publicly traded U.S. senior living operators is not just starting a new chapter but “a whole new book” — with a new name. Dallas-based Capital Senior Living is rebranding to Sonida Senior Living, the company announced Wednesday. When the name change officially […]
Shareholders of Capital Senior Living (NYSE: CSU) have approved a deal with Conversant Capital, including financing transactions to raise up to $154.8 million, according to preliminary results of a vote held on Friday. “We are very pleased with the outcome of today’s Special Meeting and want to thank our shareholders for their continued support, engagement […]
Another investor in Capital Senior Living (NYSE: CSU) has proposed an alternative to the provider’s plan to raise up to $154.8 million through a transaction with Conversant Capital. Invictus Global Management on Tuesday provided term sheets to Dallas-based Capital Senior Living for a $150 million financing transaction, which it claims is at market value and […]
Capital Senior Living (NYSE: CSU) has faced activist shareholder pressure over the terms of a deal with Conversant Capital, first announced in July 2021, intended to raise up to $152.5 million. Now, Capital and Conversant have entered into an amended and restated investment agreement, involving major shareholders Arbiter Partners and Silk Partners, to raise up […]
Ortelius Investors on Monday announced a counteroffer to Capital Senior Living’s (NYSE: CSU) plan to raise up to $153 million through a private placement of convertible stock to affiliates of Conversant Capital. Ortelius, which has threatened to block the recapitalization since it was first announced in late July, also lined up a bridge loan for […]
Capital Senior Living (NYSE: CSU) is moving forward with its plan to raise up to $153 million via a private placement of convertible stock to affiliates of Conversant Capital. The transaction is necessary to meet immediate needs for working capital and secure the future stability of the company, according to documents filed this week. The […]
Brookdale Senior Living (NYSE: BKD) is undergoing a “sales transformation,” CEO Cindy Baier said during the company’s Q2 2021 earnings call last week. This struck me as a dramatic statement, and Baier went on to say that the sales transformation is one three key pillars of the company’s pandemic recovery plan. So, I was surprised […]
Ortelius Advisors is moving forward with its plans to block Capital Senior Living’s (NYSE: CSU) private placement agreement with investment firm Conversant Capital. The New York City-based firm on Tuesday filed a proxy with the Securities and Exchange Commission that provides new insight on how the Capital-Conversant agreement came together, as well as its own […]
Capital Senior Living’s (NYSE: CSU) plan to raise up to $152.5 million through a private placement of convertible preferred stock to affiliates of the private investment firm Conversant Capital comes at an inflection point in the company’s existence. The Dallas-based operator acknowledged in its Q1 2021 earnings call in May that its ability to continue […]
An activist investor has emerged in Capital Senior Living’s (NYSE: CSU) plan to raise up to $152.5 million through a private placement of convertible preferred stock to affiliates of the private investment firm Conversant Capital. The investor, Ortelius Advisors, sent a letter Monday to Capital’s board of directors opposing the plan, claiming that it seriously […]
