Sonida Senior Living Commences Public Offering Of 4M Shares Of Its Common Stock
Portfolio Pulse from Benzinga Newsdesk
Sonida Senior Living has announced a public offering of 4 million shares of its common stock, with an option for underwriters to purchase an additional 600,000 shares. The company plans to use $102.9 million of the net proceeds to acquire eight senior living communities and for general corporate purposes.
August 15, 2024 | 8:31 pm
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Sonida Senior Living is offering 4 million shares of its common stock, with an option for underwriters to purchase an additional 600,000 shares. The proceeds will be used to acquire eight senior living communities and for general corporate purposes.
The public offering will provide Sonida Senior Living with significant capital to fund its acquisition of eight senior living communities, which could lead to growth and expansion. However, the increase in shares may dilute existing shareholders' value in the short term.
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