New Senior Announces Public Offering of Common Stock (6/22/15)
NEW YORK--(BUSINESS WIRE)--New Senior Investment Group Inc. (“New Senior” or the “Company”) (NYSE:SNR) announced today the commencement of a public offering of 17,500,000 shares of its common stock.
In connection with the offering, the Company intends to grant 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 today entered into an agreement to purchase, 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 will be made pursuant to the Company’s existing effective shelf registration statement, previously filed with the Securities and Exchange Commission (the “SEC”). The offering will be 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 email@example.com; Citigroup, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717 or by calling (800) 831-9146 or by emailing firstname.lastname@example.org; 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. http://www.businesswire.com/news/home/20150622006362/en/Senior-Announces-Public-Offering-Common-Stock#.VYiB3InbKUk