Brookdale issues $369.4M of 3.50% convertible notes due 2029, refinances 2026 notes

Brookdale Senior Living Inc.

Issued $369.445M of 3.50% Convertible Senior Notes due 2029 in exchange for $206.703M of 2026 notes and $150M cash.
Net cash proceeds ~$135M; to fund acquisitions and general corporate purposes.
Conversion price initially $9.00 per share; holders can convert upon certain conditions.
Registration Rights Agreement requires filing by Oct 25, 2024 for resale of underlying shares.
$23.3M of 2026 notes remain outstanding with unchanged terms.

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