New Senior Announces “At-the-Market” Offering Program
New Senior Investment Group announced an "at-the-market" program allowing it to sell up to $100 million of common stock. Sales will occur under a Distribution Agreement with several financial institutions, using methods such as broker transactions on the NYSE. The proceeds are intended for general corporate purposes, including debt repayment and investment opportunities. The stock will be offered under a Registration Statement on Form S-3, with details available on the SEC's website. New Senior is a major owner of senior housing properties across the U.S., with 103 properties in 36 states.
- Establishment of an "at-the-market" program to raise up to $100 million.
- Proceeds may be used for debt repayment and investment opportunities.
- None.
New Senior Investment Group Inc. (“New Senior” or the “Company”) (NYSE: SNR) announced today that it had established an "at-the-market" program through which it may issue and sell, from time to time, up to an aggregate of
Sales of the common stock pursuant to the Distribution Agreement may be made in transactions that are deemed to be “at-the-market” offerings as defined in Rule 415 under the Securities Act of 1933, as amended. Sales may also be made by any other method permitted by law, including by means of ordinary brokers’ transactions on the New York Stock Exchange, on any other existing trading market for our common stock, to or through a market maker at prices prevailing at the time of sale or in privately negotiated transactions. The Company intends to use the proceeds from these sales, if any, for general corporate purposes, which may include repayment of debt and investment opportunities.
The Shares will be offered and sold pursuant to the Company’s Registration Statement on Form S-3 (File No. 333-234508) and the related prospectus supplement dated February 26, 2021. Copies of the prospectus supplement and accompanying prospectus relating to the offering may be obtained by visiting EDGAR on the SEC's website at www.sec.gov. Alternatively, copies may be obtained, when available, from Morgan Stanley & Co. LLC, 1585 Broadway, New York, New York 10036.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
ABOUT NEW SENIOR
New Senior Investment Group Inc. (NYSE: SNR) is a publicly-traded real estate investment trust with a diversified portfolio of senior housing properties located across the United States. New Senior is one of the largest owners of senior housing properties, with 103 properties across 36 states. More information about New Senior can be found at www.newseniorinv.com.
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