BKD - Brookdale Senior Living dips on offering of tangible equity units
- Brookdale Senior Living ( NYSE: BKD ) shares fell 9% Wednesday morning after the company commenced a public offering of 2.5M tangible equity units, with an aggregate stated amount of $125M.
- Each tangible equity unit will have a stated amount of $50.00 and be comprised of a prepaid stock purchase contract and a senior amortizing note due November 2025, each issued by Brookdale ( BKD ).
- Underwriters may be granted a 30-day option to purchase up to an additional 375,000 tangible equity units.
- Brookdale ( BKD ) expects to use the net proceeds from the offering for general corporate purposes.
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Brookdale Senior Living dips on offering of tangible equity units