Capital Senior Living Corporation Announces Exercise of Over-Allotment Option.Business Editors DALLAS--(BUSINESS WIRE)--Feb. 11, 2004 Capital Senior Living Corporation (NYSE NYSE See: New York Stock Exchange :CSU See DSU/CSU. 1. CSU - California State University. 2. CSU - Cleveland State University. 3. CSU - Channel Service Unit. ), one of the country's largest operators of senior living communities, announced today that the underwriters of their recent public offering have exercised their option to purchase an additional 750,000 shares of common stock at a price of $6.00 per share. Net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). to the Company from the underwriters' exercise of the over-allotment option are expected to be approximately $4.2 million after underwriting discounts and commissions. On January 29, 2004, the Company announced a public offering of 5,000,000 shares of common stock at a price of $6.00 per share. Net proceeds to the Company were approximately $27.9 million. The Company has since used approximately $13.7 million of the net proceeds to retire debt with an interest rate of 9% which would have matured on October 15, 2004. The Company intends to use the remainder of the net proceeds, approximately $18.4 million including the proceeds received from the exercise of the over-allotment option, to invest, directly or indirectly, in senior housing communities, for working capital and for other general corporate purposes. Jefferies & Company, Inc. was the lead managing underwriter Managing underwriter The leading firm in an underwriting group, which originates the deal and acts as an agent for the group. managing underwriter See lead underwriter. , and Southwest Securities, Inc. was the co-manager in the offering. The common stock is being issued under Capital Senior Living Corporation's existing shelf registration statement filed with the Securities and Exchange Commission and is being offered only by means of a prospectus and related prospectus supplement. A copy of the prospectus and related prospectus supplement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the offering may be obtained from Jefferies & Company, Inc., 520 Madison Avenue Madison Avenue, celebrated street of Manhattan, borough of New York City. It runs from Madison Square (23d St.) to the Madison Bridge over the Harlem River (138th St.). In the 1940s and 50s, some of the major U.S. , 12th Floor, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY 10022 or Southwest Securities, Inc., 1201 Elm Street, Suite 3500, Dallas, TX 75270. This communication shall not constitute an offer to sell or the solicitation of an offer to buy such common stock nor shall there be any sale of such common stock in any state in which such offer, solicitation or sale would be unlawful under the securities laws of any such state. ABOUT THE COMPANY Capital Senior Living Corporation is one of the nation's largest operators of residential communities for senior adults. The Company's operating philosophy emphasizes a continuum of care, which integrates independent living, assisted living as·sist·ed living n. A living arrangement in which people with special needs, especially older people with disabilities, reside in a facility that provides help with everyday tasks such as bathing, dressing, and taking medication. and home care services, to provide residents the opportunity to age in place. The Company currently owns and/or operates 41 communities in 20 states and manages one community with a total capacity of approximately 6,900 residents. In the communities operated by the Company, 86 percent of residents live independently and 14 percent of residents require assistance with activities of daily living. The forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. in this release are subject to certain risks and uncertainties that could cause results to differ materially from those projected including, but not without limitation to, the Company's ability to find suitable acquisition properties at favorable terms, financing, licensing, business conditions, risks of downturns in economic condition generally, satisfaction of closing conditions such as those pertaining per·tain intr.v. per·tained, per·tain·ing, per·tains 1. To have reference; relate: evidence that pertains to the accident. 2. to licensure, availability of insurance at commercially reasonable rates, and changes in accounting principles and interpretations. These and other risks are detailed in the Company's reports filed periodically with the Securities and Exchange Commission. |
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