![]() ![]() See no justification for stockholders to support a deal that includes the litany of drawbacks and disincentives detailed in this letter.ĭespite the Board’s claims that Capital Senior Living may face financial ruin without the Amended Transactions, we firmly believeĬompany’s occupancy rates have steadily improved throughout the year and are now nearingĬompany is in a much stronger financial position after recently extending its $40.5 millionīridge loan with BBVA USA Bancshares, Inc. ![]() Of the Company’s Board to Conversant and Silk, whose collective actions cause us to doubt their alignment with fellow stockholdersĪnd willingness to uphold the tenets of sound corporate governance. We also cannot support a deal that hands control of a majority Support an exceedingly costly and highly-dilutive deal that was clearly restructured to gain the support of a subset of large investors,Īrbiter and Silk, at the direct expense of other common stockholders. Transactions announced by Capital Senior Living and Conversant after the close of the market on Friday, October 1 st. This is why we plan to vote AGAINST the Amended Urge Capital Senior Living’s stockholders to vote AGAINST the Amended Transactions recommended by the Company’sīoard of Directors (the “Board”) at the upcoming meeting of stockholders (the “Special Meeting”) on October 22,Ī 12.7% stockholder of Capital Senior Living, is squarely aligned with you. Stockholders can view theĪccompanying presentation that we have released with today’s letter by visiting We ![]() The Amended Transactions are also supported by Arbiter Partners QP, LP (“Arbiter”)Īnd Silk Partners, LP (“Silk”). Regarding its opposition to the Company’s amended financing transactions (the “Amended Transactions”) with ConversantĬapital LLC (“Conversant”). The below letter to stockholders of Capital Senior Living Corporation (NYSE: CSU) (“Capital Senior Living” or the “Company”) (together with its affiliates, “Ortelius” or “we”) today sent YORK-(BUSINESS WIRE)-Ortelius Advisors, L.P. Stockholders to Protect Their Investment by Voting AGAINST the Amended Transactions at the October 22 nd Special Meeting The Existence of More Affordable and Less Dilutive Financing Prospects, Including Alternatives Being Proposed by Existing Stockholders The Amended Transactions Were Restructured to Brazenly Induce Support From Large Investors, Such as Arbiter Partners and Silk Partners,Īt the Direct Expense of Other Stockholders Much More Dilutive for Other Stockholders The Amended Transactions are Far Better for Conversant Capital, Arbiter Partners and Silk Partners, While Being Much More Costly and ![]() The Company can Survive and Thrive Without Conversant Capital’s Self-Enriching and Self-Serving Revised Deal Sends Letter to Stockholders Regarding its Vehement Opposition to Capital Senior Living's Amended Transactions with Conversant Capital Ortelius Advisors issued an additional investor presentation titled “Why Stockholders Should Reject Capital Senior Living Corp.’sĭilutive Amended Transactions,” a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.Ģ021, Ortelius Advisors issued the following press release, including an open letter to the Company’s stockholders: Such parties, and other Company proposals, at the upcoming special meeting of stockholders of the Company. Proxy card with the Securities and Exchange Commission (“SEC”) to be used to solicit votes against the proposed securities issuances byĬapital Senior Living Corporation (the “Company”) to affiliates of Conversant Capital LLC as contemplated by an Amended and Restated Investment Agreement entered into by and among Advisors”), together with the other participants in its solicitation, has filed a definitive proxy statement and accompanying GOLD ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |