Law & Health Weekly
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Brookdale Senior Living Inc.
Brookdale Announces Completion of Follow-On Offering
June 27th, 2009
Brookdale Senior Living Inc. (NYSE:BKD) (the "Company") announced the closing of its previously disclosed public offering of 13,953,489 shares of common stock, at a public offering price of $10.75 per share. The underwriters in the offering exercised in full their option to purchase 2,093,023 additional shares of common stock from the Company at the public offering price, resulting in net proceeds to the Company from the offering of approximately $164 million. The Company has used a portion of the net proceeds from the offering to repay the $125 million of indebtedness that was outstanding under its credit agreement, and will use the remainder for working capital and...
Source: Law & Health Weekly (2009-06-27)
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