Attached files
file | filename |
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8-K - FORM 8-K - Brookdale Senior Living Inc. | g27551e8vk.htm |
EX-5.1 - EX-5.1 - Brookdale Senior Living Inc. | g27551exv5w1.htm |
Exhibit
99.1
FOR IMMEDIATE RELEASE
Brookdale Completes Issuance of $41.25 Million of its
2.75% Convertible Senior Notes Due 2018
2.75% Convertible Senior Notes Due 2018
Nashville, TN., June 20, 2011 Brookdale Senior Living Inc. (NYSE: BKD) (the Company) announced
today that the underwriters exercised their full option to purchase additional notes in connection
with the previously completed convertible senior notes offering, and the Company has completed the
issuance of $41.25 million in aggregate principal amount of its 2.75% Convertible Senior Notes due
2018 (the Additional Notes) in an underwritten public offering pursuant to the exercise of such
option. In connection with the offering of the Additional Notes, the Company entered into
privately negotiated convertible note hedge transactions with certain financial institutions, that
included certain of the underwriters or their respective affiliates (the hedge counterparties).
The Company also entered into privately negotiated warrant transactions with the hedge
counterparties initially relating to the same number of shares of the Companys common stock and
having a strike price of $40.25 per share, subject to customary anti-dilution adjustments, which is
75% higher than the closing price of the Companys common stock on June 8, 2011. The shares of the
Companys common stock issuable upon conversion of the Additional Notes and exercise of the
warrants have been reserved for issuance by the Company and authorized for listing on the New York
Stock Exchange.
About Brookdale Senior Living
Brookdale Senior Living Inc. is a leading owner and operator of senior living communities
throughout the United States. The Company is committed to providing an exceptional living
experience through properties that are designed, purpose-built and operated to provide the
highest-quality service, care and living accommodations for residents. The Company owns and
operates independent living, assisted living, and dementia-care communities and continuing care
retirement centers, with 558 communities in 33 states and the ability to serve over 51,000
residents as of March 31, 2011.
Contact:
Brookdale Senior Living Inc.
Ross Roadman 615-564-8104
Brookdale Senior Living Inc.
Ross Roadman 615-564-8104
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