Sonida Senior Living Inc - SNDA STOCK NEWS

Sonida Senior Living (NYSE: SNDA) has announced significant capital market activities and pending acquisitions:

• Pending acquisition of eight senior living communities for $102.9 million, expanding its portfolio to 91 communities
• Raised $130.4 million through a public offering of common stock
• Secured a $150 million commitment on a new senior secured revolving credit facility
• Entered into loan modification agreements for two Texas properties with a discounted payoff option

These moves aim to support Sonida's growth strategy, capitalize on favorable senior housing trends, and create value for shareholders. The pending acquisition will densify Sonida's presence in the Southeast, with communities in Florida and South Carolina.

Sonida Senior Living (NYSE: SNDA) has priced an upsized public offering of 4,300,000 shares of common stock at $27.00 per share. The offering, initially set for 4,000,000 shares, includes a 30-day option for underwriters to purchase up to 645,000 additional shares. Closing is expected on August 19, 2024. Sonida plans to use $102.9 million of the net proceeds to fund the acquisition of eight senior living communities, with the remainder allocated for general corporate purposes. Morgan Stanley, RBC Capital Markets, and BMO Capital Markets are acting as joint lead book-running managers for the offering, which is being made through a prospectus supplement and base prospectus filed with the SEC.

Sonida Senior Living (NYSE: SNDA) has announced a public offering of 4,000,000 shares of its common stock, with an option for underwriters to purchase an additional 600,000 shares. The company plans to use $102.9 million of the net proceeds to fund the acquisition of eight senior living communities and for general corporate purposes. Morgan Stanley, RBC Capital Markets, and BMO Capital Markets are acting as joint lead book-running managers for the offering.

The offering is being made through a prospectus supplement and base prospectus, which are part of an effective shelf registration statement filed with the SEC. Interested parties can obtain the preliminary prospectus supplement and accompanying base prospectus from the SEC's website or the offices of the joint lead book-running managers.

Sonida Senior Living (NYSE: SNDA) has announced plans to acquire an eight-asset senior housing portfolio in Florida and South Carolina for $103 million. The portfolio includes 555 units offering Assisted Living and Memory Care services, with an average asset age of 5 years. Located in high-growth metropolitan areas, the acquisition aligns with Sonida's strategy to upgrade its portfolio and leverage operating efficiencies.

Key highlights:

• Purchase price of $185,000 per unit, significantly below estimated replacement cost
• Current portfolio occupancy at 83% with average RevPOR over $6,000
• Expected to close in late Q3 or early Q4 2024
• Will increase Sonida's total operating portfolio to 91 communities

The acquisition is anticipated to generate value for shareholders through occupancy growth, rent rate improvement, and effective expense management.

Sonida Senior Living (NYSE: SNDA) reported its Q2 2024 results, showcasing robust performance and strategic growth. Key highlights include a 230 basis points increase in average occupancy to 86.2%, a $5.7 million (10%) year-over-year rise in same-store resident revenue, and a $2.4 million reduction in net loss to $9.8 million.

Adjusted EBITDA rose by 50.6% year-over-year to $11.4 million, driven by operational improvements. Sonida acquired one community in Ohio and entered joint ventures to acquire eight more in the Midwest and Texas.

Additionally, Sonida raised $17.4 million through ATM Sales and filed a prospectus for a potential $500 million securities issuance. The company also secured an $8.7 million loan from BMO Bank and completed a $40.2 million loan repurchase.

Overall, revenue grew by 10.7% to $63.1 million, while operating expenses increased by 2.9% to $46 million. General and administrative expenses rose by 39.5% to $9.2 million.

Sonida Senior Living (NYSE: SNDA) has announced the date for its second quarter 2024 earnings release and conference call. The company, a leading operator, owner, and investor in senior living communities and services, will release its Q2 2024 earnings results before market open on Monday, August 12, 2024. A conference call and webcast to discuss the financial performance and operating results will follow at 11:00 a.m. Eastern Time on the same day.

Investors can access the earnings release on Sonida's Investor Relations website prior to the call. The conference call's toll-free dial-in number is (877) 407-0989, with no passcode required. Participants are advised to dial in 10 minutes early. A live webcast will be available, and a replay can be accessed through the same link following the call. The conference call recording will be available for replay from August 13 to August 26, 2024, by calling 877-660-6853 with passcode 13743708.

Sonida Senior Living announced significant strategic developments, including joint ventures and acquisitions, adding nine senior living communities to its portfolio in 2024. This includes 790 units across Texas, Ohio, Georgia, Missouri, and Kentucky. These acquisitions align with Sonida's strategy to acquire high-quality assets and leverage market knowledge for operational efficiency.

In Q2 2024, Sonida raised $18.9 million through an ATM equity offering to fund these acquisitions. The company also entered management agreements for two new properties in Minnesota and Wisconsin. Furthermore, Sonida has been added to the Russell 3000® Index effective July 1, 2024, which is expected to enhance investor awareness and broaden its shareholder base.

Sonida Senior Living, Inc. announces Max Levy as Chief Investment Officer and Lilly H. Donohue as a new Board member. Levy, transitioning from Conversant Capital, will lead investment strategy, while Donohue, with vast industry experience, will bring valuable insights to the Board. The company aims to enhance its portfolio through acquisitions and densification for operational efficiency.

Sonida Senior Living, Inc. announced strong Q1 2024 results with increased liquidity, revenue, and net income. The company's consolidated portfolio saw growth in occupancy, revenue, and net operating income. The Private Placement and Protective Life Loan Purchase significantly improved the company's financial position. Sonida is well-positioned for strategic expansion and value creation for shareholders.