Capital Senior Living Corporation filed SEC Form 8-K: Submission of Matters to a Vote of Security Holders, Regulation FD Disclosure, Financial Statements and Exhibits

$CSU
Hospital/Nursing Management
Health Care
Get the next $CSU alert in real time by email
8-K
CAPITAL SENIOR LIVING CORP false 0001043000 0001043000 2021-10-22 2021-10-22

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported) October 22, 2021

 

 

Capital Senior Living Corporation

(Exact name of registrant as specified in its charter)

 

 

Delaware

(State or other jurisdiction of incorporation)

 

1-13445   75-2678809
(Commission File Number)   (I RS Employer Identification No.)

 

16301 Quorum Drive

Suite 160A

Addison, TX 75001

  75254
(Address of principal executive offices)   (Zip Code)

(972) 770-5600

(Registrant’s telephone number, including area code)

Not applicable

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading

symbol(s)

 

Name of each exchange

on which registered

Common Stock, par value $0.01 per share   CSU   New York Stock Exchange

 

 

 


Item 5.07.

Submission of Matters to a Vote of Security Holders.

A special meeting of the stockholders of Capital Senior Living Corporation, a Delaware corporation (the “Company”), was held on October 22, 2021 at 10:00 a.m. Central Time (the “Special Meeting”) virtually via the internet for stockholders to vote on the proposals described in the proxy statement, filed with the U.S. Securities and Exchange Commission (the “SEC”) on August 31, 2021, as amended by the amendment thereto filed with the SEC on October 4, 2021. The final voting results for each of the matters submitted to a vote of stockholders at the Special Meeting are as follows:

 

Proposal 1:   The Company’s stockholders approved the issuance of up to 66,250 shares of newly designated Series A Convertible Preferred Stock of the Company, which shares will be convertible into shares of Common Stock of the Company, up to 3,508,306 shares of Common Stock of the Company and 1,031,250 Warrants to acquire Common Stock of the Company, to affiliates of Conversant Capital LLC.

The results of the vote were as follows:

 

For

  

Against

  

Abstain

1,160,955

   510,210    676

 

Proposal 2:    The Company’s stockholders approved an amendment to the Company’s Amended and Restated Certificate of Incorporation to increase the number of authorized shares of Common Stock from 4,333,334 shares to 15,000,000 shares.

The results of the vote were as follows:

 

For

  

Against

  

Abstain

1,247,987

  

606,444

  

2,791

 

Proposal 3:    The Company’s stockholders approved an amendment to the Company’s 2019 Omnibus Stock and Incentive Plan to (i) increase the number of shares of Common Stock that the Company may issue under such plan from 150,000 shares to 797,699 shares and (ii) to exclude 257,000 shares from the minimum vesting provisions of such plan.

The results of the vote were as follows:

 

For

  

Against

  

Abstain

1,195,832

  

657,829

  

3,561

 

Proposal 4:    The Company’s stockholders approved the issuance to Arbiter Partners QP, LP of up to 183,959 shares of Common Stock of the Company.

The results of the vote were as follows:

 

For

  

Against

  

Abstain

1,071,678

  

598,763

  

1,400

 

- 2 -


Proposal 5:   The Company’s stockholders approved the adjournment of the Special Meeting to solicit additional proxies if there had been insufficient proxies at the Special Meeting to approve the foregoing proposals.

The results of the vote were as follows:

 

For

  

Against

  

Abstain

1,145,161

  

708,082

  

3,979

 

Item 7.01

Regulation FD Disclosure.

On October 22, 2021, the Company issued a press release announcing its preliminary estimate that its stockholders had approved the proposals submitted to a vote at the Special Meeting. A copy of the press release is attached as Exhibits 99.1 to this Current Report on Form 8-K.

Exhibit 99.1 is furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, except as may be expressly set forth by specific reference in such filing.

 

Item 9.01

Financial Statements and Exhibits.

(d) Exhibits.

 

99.1    Press release dated October 22, 2021, titled “Capital Senior Living Shareholders Approve Amended Investment Agreement with Conversant Capital.”
104    Cover Page Interactive Date File-formatted as Inline XBRL.

 

- 3 -


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: October 27, 2021

 

Capital Senior Living Corporation
By:  

/s/ David R. Brickman

Name:   David R. Brickman
Title:   Senior Vice President, Secretary and General Counsel

 

- 4 -

Get the next $CSU alert in real time by email

Chat with this insight

Save time and jump to the most important pieces.

Recent Analyst Ratings for
$CSU

DatePrice TargetRatingAnalyst
11/5/2021$2300.00 → $2700.00Outperform
RBC Capital
9/20/2021$2100.00 → $2400.00Sector Outperform
Scotiabank
8/6/2021$2100.00 → $2300.00Outperform
RBC Capital
More analyst ratings

$CSU
Press Releases

Fastest customizable press release news feed in the world

See more
  • Capital Senior Living Corporation Announces Third Quarter 2021 Results

    Capital Senior Living Corporation (the "Company") (NYSE:CSU) announced results for the quarter ended September 30, 2021. Highlights Successfully completed shareholder rights offering and private placement investment totaling $154.8 million, strengthening the Company's liquidity position. Third quarter 2021 occupancy of 81.0% increased 290 basis points compared to the second quarter of 2021 and 170 basis points over occupancy for the third quarter of 2020. October 2021 average occupancy was 81.2%, an increase of 590 basis points from the pandemic low average monthly occupancy of 75.3% in February of 2021. October month-end spot occupancy was 82.3%. Consolidated resident revenue in the

    $CSU
    Hospital/Nursing Management
    Health Care
  • Capital Senior Living Announces Closing of Financing Transaction with Conversant Capital

    Names New Board of Directors Company to be Renamed Sonida Senior Living and Will Trade on the NYSE Under Ticker "SNDA" Capital Senior Living Corporation ("Capital Senior Living" or the "Company") (NYSE:CSU), a leading owner-operator of senior living communities across the United States, today announced that it has closed the previously announced financing transactions with Conversant Capital ("Conversant") and has raised a total of $154.8 million, including aggregate gross proceeds of approximately $34 million from the common stock rights offering. With the closing of the transaction, the Company's Board of Directors (the "Board") has been reconstituted. Noah Beren, Benjamin Harris, Dave

    $CSU
    $HGV
    $IMBI
    $WPC
    Hospital/Nursing Management
    Health Care
    Hotels/Resorts
    Consumer Discretionary
  • Capital Senior Living Corporation Announces Third Quarter 2021 Earnings Release Date and Conference Call

    Capital Senior Living Corporation (NYSE:CSU) will issue its third quarter 2021 earnings release before the market opens for trading on the New York Stock Exchange on Thursday, November 11, 2021. A conference call to discuss those earnings will be held on Thursday, November 11, 2021, at 2:30 p.m. Eastern Time. The call-in number is 877-407-0989 (no passcode required). A link to a simultaneous webcast of the teleconference will be available here through Windows Media Player or RealPlayer. The conference call will be recorded and available for replay starting November 12, 2021, through November 25, 2021. To access the conference call replay, call 877-660-6853, passcode 13724306. The webcast

    $CSU
    Hospital/Nursing Management
    Health Care

$CSU
Analyst Ratings

Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

See more

$CSU
Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

See more

$CSU
SEC Filings

See more

$CSU
Leadership Updates

Live Leadership Updates

See more
  • Capital Senior Living Names Jay Reed Vice President of Information Technology

    DALLAS, Jan. 14, 2021 (GLOBE NEWSWIRE) -- Capital Senior Living Corporation (the “Company” or “Capital Senior Living”) (NYSE: CSU), one of the nation’s leading senior living companies, announced the appointment of Jay Reed as Vice President of Information Technology. Reed brings extensive expertise in IT operations leadership. He is a creative technology leader with a proven track record in the hospitality, real estate, and restaurant industries – all of which share key characteristics with senior living. At Capital Senior Living, Reed will drive the overall IT strategy and lead all IT departments, including network development, security, systems and desktop support. Throughout his caree

    $CSU
    Hospital/Nursing Management
    Health Care

$CSU
Financials

Live finance-specific insights

See more
  • Capital Senior Living Corporation Announces Third Quarter 2021 Results

    Capital Senior Living Corporation (the "Company") (NYSE:CSU) announced results for the quarter ended September 30, 2021. Highlights Successfully completed shareholder rights offering and private placement investment totaling $154.8 million, strengthening the Company's liquidity position. Third quarter 2021 occupancy of 81.0% increased 290 basis points compared to the second quarter of 2021 and 170 basis points over occupancy for the third quarter of 2020. October 2021 average occupancy was 81.2%, an increase of 590 basis points from the pandemic low average monthly occupancy of 75.3% in February of 2021. October month-end spot occupancy was 82.3%. Consolidated resident revenue in the

    $CSU
    Hospital/Nursing Management
    Health Care
  • Capital Senior Living Corporation Announces Third Quarter 2021 Earnings Release Date and Conference Call

    Capital Senior Living Corporation (NYSE:CSU) will issue its third quarter 2021 earnings release before the market opens for trading on the New York Stock Exchange on Thursday, November 11, 2021. A conference call to discuss those earnings will be held on Thursday, November 11, 2021, at 2:30 p.m. Eastern Time. The call-in number is 877-407-0989 (no passcode required). A link to a simultaneous webcast of the teleconference will be available here through Windows Media Player or RealPlayer. The conference call will be recorded and available for replay starting November 12, 2021, through November 25, 2021. To access the conference call replay, call 877-660-6853, passcode 13724306. The webcast

    $CSU
    Hospital/Nursing Management
    Health Care
  • Capital Senior Living Corporation Announces Second Quarter 2021 Results

    Capital Senior Living Corporation (the "Company") (NYSE:CSU), one of the nation's leading owner-operators of senior housing communities, announced results for the second quarter of 2021. Highlights The Company announced a strategic investment from Conversant Capital and a proposed rights offering to strengthen its financial profile and raise up to $152.5 million. July marks the fifth month of consecutive occupancy growth for the Company with average occupancy at 80.4%, an increase of 510 basis points from the pandemic low average monthly occupancy of 75.3% in February of 2021. July month-end spot occupancy was 81.8%. For the Company's 60 owned communities, revenue in the second quart

    $CSU
    Hospital/Nursing Management
    Health Care

$CSU
Large Ownership Changes

This live feed shows all institutional transactions in real time.

See more