New Senior Announces Pricing of Public Offering of Common Stock
June 23 2015 - 10:05PM
Business Wire
New Senior Investment Group Inc. (“New Senior” or the “Company”)
(NYSE:SNR) announced today the pricing of a public offering of
17,500,000 shares of its common stock at a public offering price of
$13.75 per share for gross proceeds of approximately $241 million.
The offering is expected to close on June 29, 2015, subject to
customary closing conditions.
In connection with the offering, the Company has granted the
underwriters a 30-day option to purchase up to an additional
2,625,000 shares of common stock from the Company.
The Company intends to use the net proceeds from the offering to
fund a portion of the purchase price for a $640 million portfolio
of independent living senior housing properties, which the Company
entered into an agreement to purchase on June 22, 2015, and for
general corporate purposes, which may include, but are not limited
to, funding additional acquisitions.
BofA Merrill Lynch, Citigroup and Morgan Stanley are the joint
book-running managers for the offering. The offering is being made
pursuant to the Company’s existing effective shelf registration
statement, previously filed with the Securities and Exchange
Commission. The offering is being made only by means of a
prospectus and a related prospectus supplement. Copies of the
prospectus and prospectus supplement may be obtained from: BofA
Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus
Department or by emailing dg.prospectus_requests@baml.com;
Citigroup, c/o Broadridge Financial Services, 1155 Long Island
Avenue, Edgewood, NY 11717 or by calling (800) 831-9146 or by
emailing prospectus@citi.com; or Morgan Stanley, Attn: Prospectus
Department, 180 Varick Street, 2nd Floor, New York, NY 10014.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy shares of common stock, nor shall
there be any sale of these securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction.
ABOUT NEW SENIOR
New Senior is a real estate investment trust focused on
investing in senior housing properties across the United States.
The Company is one of the largest owners of senior housing
properties and currently owns 124 properties in 32 states. New
Senior is managed by an affiliate of Fortress Investment Group LLC,
a global investment management firm.
FORWARD-LOOKING STATEMENTS
Certain statements in this press release may constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including, but not
limited to, statements relating to the offering, including the
expected closing date and intended use of proceeds. These
statements are based on management’s current expectations and
beliefs and are subject to a number of trends and uncertainties
that could cause actual results to differ materially from those
described in the forward-looking statements, many of which are
beyond our control. The Company can give no assurance that its
expectations will be attained. Accordingly, you should not place
undue reliance on any forward-looking statements contained in this
press release.
For a discussion of some of the risks and important factors that
could affect such forward-looking statements, see the sections
entitled “Risk Factors” in the prospectus supplement related to the
offering and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” incorporated by reference in
the prospectus supplement related to the offering from the
Company’s Annual Report on Form 10-K for the year ended December
31, 2014 and Quarterly Report on Form 10-Q for the quarter ended
March 31, 2015. In addition, new risks and uncertainties emerge
from time to time, and it is not possible for the Company to
predict or assess the impact of every factor that may cause its
actual results to differ from those contained in any
forward-looking statements. Such forward-looking statements speak
only as of the date of this press release. The Company expressly
disclaims any obligation to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in the Company’s expectations with regard
thereto or change in events, conditions or circumstances on which
any statement is based.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150623006717/en/
For New SeniorDavid Smith, 212-479-3140
New Senior Investment (NYSE:SNR)
Historical Stock Chart
From Mar 2024 to Apr 2024
New Senior Investment (NYSE:SNR)
Historical Stock Chart
From Apr 2023 to Apr 2024