Business
Brookdale Announces Election of Early Settlement of its Purchase Contracts
Brookdale Senior Living Inc. (NYSE: BKD) ("Brookdale" or the "Company") today announced that it has elected to exercise its right to settle all of its prepaid stock purchase contracts, pursuant to the early settlement right in the purchase contract agreement. The purchase contracts are part of the 7.00% tangible equity units issued by Brookdale on November 21, 2022 (CUSIP No. 112463 302, NYSE: BKDT). Each tangible equity unit is also comprised of a senior amortizing note due November 15, 2025. T
About this update from Brookdale Senior Living Inc.
[{"type":"text","content":"NASHVILLE, Tenn., March 27, 2025 /PRNewswire/ -- Brookdale Senior Living Inc. (NYSE: BKD) ("Brookdale" or the "Company") today announced that it has elected to exercise its right to settle all of its prepaid stock purchase contracts, pursuant to the early settlement right in the purchase contract agreement. The purchase contracts are part of the 7.00% tangible equity units issued by Brookdale on November 21, 2022 (CUSIP No. 112463 302, NYSE: BKDT). Each tangible equity unit is also comprised of a senior amortizing note due November 15, 2025. The last day of trading of the tangible equity units is March 28, 2025.","length":639,"tagName":"p"},{"type":"image","alt":"Brookdale Announces Date of Second Quarter Earnings Release and Conference Call (PRNewsfoto/Brookdale Senior Living Inc.)","displaySize":"","headline":null,"caption":"Brookdale Announces Date of Second Quarter Earnings Release and Conference Call (PRNewsfoto/Brookdale Senior Living Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":105,"url":"https://media.zenfs.com/en/prnewswire.com/239adc078e3613630cf197832bd65640"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/NcEd8YsWHjlRO7DNIgtwHQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTE4NTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/239adc078e3613630cf197832bd65640","width":400,"height":105}},"href":"https://mma.prnewswire.com/media/687685/Brookdale_Senior_Living_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"On March 31, 2025, subject to satisfaction of the conditions set forth in the purchase contract agreement by each holder of the purchase contracts, the Company will issue 12.9341 shares of its common stock for each purchase contract, plus any cash payable in lieu of fractional shares to such holder. The settlement is based upon the average of the daily volume-weighted average price per share of the Company's common stock on the New York Stock Exchange for the 20 consecutive trading days ending on March 26, 2025. On or before April 23, 2025, holders of tangible equity units or previously separated notes may also require the Company to repurchase their notes, plus any accrued and unpaid interest, subject to the holders satisfaction of the conditions set forth in the indenture governing such notes.","length":810,"tagName":"p"},...