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Brookdale Senior Living (NYSE: BKD) has announced its decision to exercise early settlement rights for all prepaid stock purchase contracts, which are components of the 7.00% tangible equity units issued on November 21, 2022. On March 31, 2025, the company will issue 12.9341 shares of common stock per purchase contract, subject to holder conditions.
The settlement calculation is based on the 20-day volume-weighted average stock price ending March 26, 2025. The last trading day for tangible equity units is March 28, 2025. Holders have until April 23, 2025, to require Brookdale to repurchase their notes with accrued interest.
Brookdale operates 647 senior living communities across 41 states, serving approximately 58,000 residents as of December 31, 2024. The company provides independent living, assisted living, memory care, and continuing care retirement communities.
