CSU - CSU STOCK NEWS

Ortelius Advisors, a 12.7% shareholder of Capital Senior Living (CSU), opposes the company’s amended transactions with Conversant Capital and urges fellow shareholders to vote against them. Ortelius claims the revised deal benefits Conversant and other large investors at the expense of existing shareholders, citing excessive dilution and costly terms. They emphasize the company's improving occupancy rates, recent financial stability, and potential alternative financing options that are more shareholder-friendly. Ortelius believes rejecting the transactions would allow for negotiations with other capital providers for a beneficial outcome.

Invictus Global Management, a major shareholder of Capital Senior Living Corporation (CSU), has proposed a $150 million financing package that offers superior terms compared to the existing deal with Conversant Capital. Invictus argues that the Conversant terms are dilutive and value destructive for shareholders. They propose an immediate $25 million loan and additional loans contingent upon property appraisals. Invictus expresses confidence in CSU's strong asset base and urges the board to consider their offer to maximize shareholder value.

Capital Senior Living Corporation (NYSE: CSU) has announced an Amended and Restated Investment Agreement with Conversant Capital, aiming to raise up to $154.8 million. The funding will be sourced from a private placement of stock and a rights offering with a subscription price of $30 per share, extended to October 27, 2021. Key shareholders, including Silk Partners and Arbiter, have backed the agreement, ensuring that the full amount sought will be raised. A special meeting of shareholders is scheduled for October 22, 2021 to vote on the proposed transactions.

Invictus Global Management, a shareholder of Capital Senior Living Corporation (CSU), has expressed its willingness to provide a financing solution that would offer the Company $150 million at a significantly lower cost than the proposals from Conversant Capital. Amit Patel, Partner at Invictus, contends that the current transaction proposed by Conversant is not beneficial to CSU shareholders. Invictus urges the Company to engage in discussions about their alternative proposal, which is framed as being in the best interest of all shareholders.

Capital Senior Living Corporation (CSU) announced the postponement of its Special Meeting of Stockholders to October 22, 2021. The record date for eligible voting stockholders remains unchanged as of August 25, 2021. The Board of Directors encourages stockholders to vote 'FOR' all proposals at the upcoming meeting. This meeting will take place at 10:00 a.m. Central Time at the Residence Inn Dallas. Stockholders needing assistance with voting can contact Georgeson LLC.

Ortelius Advisors, owning 12.7% of Capital Senior Living Corporation, urges stockholders to vote AGAINST the Company’s proposals on the GOLD proxy card at the October 12 special meeting. They argue that the Board’s assessment of financing needs is fundamentally flawed, overlooking the industry recovery and low-interest capital options. Ortelius believes voting NO can lead to viable alternatives, potentially raising up to $70 million in a new equity rights offering, which they are willing to support if separate from the proposed transactions.

Capital Senior Living Corporation (NYSE: CSU) reports a significant occupancy increase, reaching 81.2% in August 2021, a rise of 590 basis points from the pandemic low of 75.3% in February 2021. This marks six consecutive months of growth, attributed to various factors:

• High vaccination rates among residents
• Active engagement with local referral partners
• Positive sales indicators, including leads and tours
• Implementation of resident-centric programs like Magnolia Trails

Ortelius Advisors opposes Capital Senior Living's proposed transactions with Conversant Capital, urging stockholders to vote against them at the Special Meeting on October 12, 2021. Holding 12.7% of the shares, Ortelius criticizes the Board's lack of stock ownership and the dilutive nature of the proposals, suggesting alternative financing options instead. They believe that voting against the proposals could prevent a detrimental sale to Conversant and promote better capital access, including a potential $70 million rights offering and a $46 million bridge loan option.

Capital Senior Living Corporation (NYSE: CSU) has initiated a $70 million common stock rights offering, allowing current shareholders to purchase additional shares at $32.00 each. The subscription period commenced on September 10, 2021 and will end on October 18, 2021. The company plans to issue approximately 2,190,599 new shares and potentially $42.5 million of Series A Convertible Preferred Stock to Conversant Capital as a backstop. Proceeds will be utilized for working capital, debt repayment, and growth projects.