Sonida Seeks Growth in 2024 With New Slate of Acquisitions Underway

Sonida Senior Living (NYSE: SNDA) has “significant momentum” heading into the remainder of this year with a focus on growth, CEO Brandon Ribar told investors during a first quarter earnings call on Friday. Moving into the second quarter, Ribar said the Dallas, Texas-based owner-operator and investment company is continuing to pursue new growth this year […]

Sonida ‘Plays Offense’ with Latest Equity Raise Totaling Nearly $47.8M

Sonida Senior Living (NYSE: SNDA) has announced a $47.75 million private equity raise to fund a purchase of debt while fueling capital investment within its existing portfolio. The sum includes investment from its largest shareholder, Conversant Capital. Sonida will use the new capital to complete its balance sheet repositioning while continuing enhancements across its portfolio […]

Capital Senior Living Rebrands to Sonida, Maps Future Strategy After $154.8M Infusion

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 […]

Capital Senior Living Shareholders Approve $154.8 Million Conversant Deal After Activist Battle

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 […]

Invictus Presents $150M Alternative to Capital Senior Living-Conversant Transaction

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 Shareholder Battle Continues with $70M Counteroffer from Ortelius

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 Says Conversant Deal ‘Only Viable Path,’ Pushes for Shareholder Support

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 […]

New Filings Shine Light on Capital Senior Living’s Finances, $153M Conversant Agreement

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 CEO: ‘Constrained’ Cash Environment Led to Conversant Deal

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 […]