Capital Senior Living, an owner-operator of senior living communities across the United States, announced plans to raise up to $152.5 million through the private placement of convertible preferred stock to affiliates of Conversant Capital, and a proposed common stock rights offering to its existing stockholders. Conversant will partially backstop the rights offering and will provide an incremental $25 million accordion for future investment, subject to certain conditions.
The xcompany intends to use the net proceeds of the private placement and rights offering for working capital, to repay debt and to fund accretive growth projects. Read more.
