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Brookdale Announces Offering Of 2.5M Tangible Equity Units, With An Aggregate Stated Amount Of $125M

Benzinga · 11/16/2022 07:59

Brookdale Senior Living Inc. (NYSE:BKD) ("Brookdale" or the "Company") announced today that it has commenced a public offering of 2.5 million tangible equity units, with an aggregate stated amount of $125.0 million. Each tangible equity unit will have a stated amount of $50.00 and be comprised of a prepaid stock purchase contract and a senior amortizing note due November 2025, each issued by Brookdale. The tangible equity unit offering is a public offering made by means of a prospectus supplement under Brookdale's effective shelf registration statement. Brookdale's common stock is listed on the New York Stock Exchange under the symbol "BKD," and Brookdale intends to apply to list the tangible equity units on the New York Stock Exchange under the symbol "BKDT."

Brookdale intends to grant the underwriters of the offering a 30-day option to purchase up to an additional 375,000 tangible equity units.

Brookdale expects to use the net proceeds from the offering for general corporate purposes.

BofA Securities, Inc. and Barclays Capital Inc. are acting as joint book-running managers for the tangible equity unit offering. The offering of tangible equity units (including the component stock purchase contracts and senior amortizing notes) is being made pursuant to an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission ("SEC"). The offering may only be made by means of the prospectus supplement relating to such offering and the accompanying prospectus. Copies of the prospectus supplement for the offering and the accompanying prospectus can be obtained when available by contacting BofA Securities, Inc.; Attn: Prospectus Department, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, or by telephone at (800) 294-1322, or by emailing dg.prospectus_requests@bofa.com or  Barclays Capital Inc.; c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (888) 603-5847, or by emailing Barclaysprospectus@broadridge.com.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities (including the shares of Brookdale common stock into which the purchase contracts settle) and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.