![]() ![]() Still, rumors persist that the company may be shopping for a buyer. ![]() Investors wonder if it is time to buy or run from Brookdale investments, according to Benzinga’s real estate writer.īrookdale properties have seen 11 consecutive months of occupancy growth, and the company announced last month has substantially reduced all 2023 debt maturities with $220 million in refinancing. “The offering is dilutive to current investors, effectively reducing the value of their shares,” Kevin Vandenboss wrote for Benzinga. Brookdale intends to grant the underwriters of the offering a 30-day option to purchase up to an additional 375,000 tangible equity units. Each tangible equity unit will have a stated amount of $50 and be comprised of a prepaid stock purchase contract and a senior amortizing note due November 2025, each issued by Brookdale. The net proceeds from the $125 million offering will be used for general corporate purposes, according to the firm.
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