CSU - CSU STOCK NEWS

Capital Senior Living Corporation (NYSE: CSU) will release its third quarter 2021 earnings before the market opens on November 11, 2021. A conference call to discuss these results is scheduled for the same day at 2:30 p.m. ET. Analysts and investors can join the call by dialing 877-407-0989. The earnings call will also be available via a live webcast. A recorded replay can be accessed from November 12 to November 25, 2021. The company operates 72 communities serving nearly 7,000 residents across 18 states, focusing on resident-centric services.

Capital Senior Living Corporation (NYSE: CSU) announced that all proposals received shareholder approval at a special meeting, including a financing plan with Conversant Capital to raise up to $154.8 million. The company reported that subscription rights for 1,133,941 shares were exercised in the rights offering, generating approximately $34 million in proceeds. These funds will be used for debt maturities and working capital. The rights offering closed on October 27, 2021.

Capital Senior Living Corporation announced preliminary voting results from a Special Meeting of Stockholders held on October 22, 2021, where all proposals received shareholder approval. The company aims to raise up to $154.8 million through financing transactions with Conversant Capital. The rights offering for existing shareholders, allowing them to purchase shares at $30, expires on October 27, 2021. The results are preliminary until certified by the independent Inspector of Election.

Capital Senior Living Corporation (NYSE: CSU) is urging shareholders to vote on the Amended Transactions at the Special Meeting scheduled for October 22, 2021. The company plans to raise up to $154.8 million in capital to stabilize its financial position. The Board stresses the urgent need for liquidity to avoid running out of cash by year-end, presenting this deal as the only viable option available. Institutional Shareholder Services (ISS) supports the proposal, contrary to the dissent from Ortelius Advisors, which the company claims has misrepresented its financial status.

Ortelius Advisors, L.P. (owning 12.7% of Capital Senior Living, NYSE: CSU) is urging shareholders to vote AGAINST all management proposals at the Special Meeting on October 22, 2021. This includes rejecting amended financing transactions with Conversant Capital, which Ortelius criticizes as costly and dilutive. Ortelius contends that voting against these proposals would allow the Board to explore better financing options, involving potential non-dilutive capital support amounting to $55 million from Ortelius and Invictus Global Management.

Capital Senior Living Corporation (CSU) reported a September 2021 average occupancy of 81.4%, marking a 20 basis point increase from August and up 610 basis points from the pandemic low of 75.3% in February 2021. This represents the seventh consecutive month of occupancy growth. However, the pace of growth has slowed due to capital constraints and expense management affecting room turnovers. Leading indicators like leads and sales activities increased sequentially in Q3.

Capital Senior Living Corporation (NYSE: CSU) announced a virtual Special Meeting of Stockholders on October 22, 2021, due to COVID-19 precautions. The record date for eligible voters is August 25, 2021. Shareholders must register in advance to attend the meeting online, and the Board of Directors recommends voting 'FOR' all proposals. The press release emphasizes the importance of stockholder participation and provides instructions for attending the meeting. Capital Senior Living operates 75 senior living communities across 18 states, housing nearly 7,000 residents.

Invictus Global Management, a major shareholder of Capital Senior Living Corporation (CSU), criticized the company's claims that it may face insolvency without shareholder support for a dilutive financing deal with Conversant Capital. Invictus argues that it can provide necessary funds without conditions, enabling CSU to manage near-term debts and establish a better long-term financing solution. The firm emphasizes that rejecting the Conversant deal is a step toward reducing dilution, asserting CSU is not in a financial crisis and can attract support for optimized financing options.

Ortelius Advisors has criticized ISS's recommendation to support Capital Senior Living's financing deal, suggesting it is flawed and may lead to unnecessary dilution for stockholders. They assert that Capital Senior Living's financial position is improving, with occupancy returning to pre-pandemic levels. Ortelius plans to inject $30 million via rights offerings and notes Invictus's commitment of $25 million as part of a larger $150 million proposal. Ortelius urges shareholders to vote against the deal at the October 22 Special Meeting to protect their interests.