By Business Wire, March 11, 2013, 04:39:00 PM EDT
SEATTLE--(BUSINESS WIRE)--
Emeritus Corporation (NYSE:ESC), a national provider of senior living
services, today announced that it has launched a secondary public
offering of common shares pursuant to a shelf registration statement on
Form S-3 filed today with the Securities and Exchange Commission (the
"SEC") on behalf of certain selling shareholders for the offering of
7,973,600 common shares. Shares are being sold by AREA Property
Partners, on behalf of funds they manage, our CEO and President, Granger
Cobb, funds associated with Directors Daniel Baty and Stan Baty, and by
Ray Brandstrom. In addition, the Company will grant the underwriters a
30-day option to purchase up to an additional 1,196,040 common shares.
Any proceeds from the exercise of the underwriter's option will be used
for general corporate purposes, which may include repayment of
outstanding debt.
The shelf registration statement relating to these securities was
effective upon filing with the SEC. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy these
securities, nor shall there be any sale of these securities in any state
or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction. A copy of the registration
statement can be accessed through the SEC's website at www.sec.gov.
Goldman, Sachs & Co. will act as sole manager for the offering. The
offering will be made only by means of a prospectus supplement and
accompanying prospectus. Copies of the prospectus supplement and
accompanying prospectus related to the offering may be obtained, when
available, from: Goldman, Sachs & Co., Attention: Prospectus Department,
200 West Street, New York, NY 10282, Telephone: 1-866-471-2526,
Facsimile: 1-212-902-9316 or by emailing prospectus-ny@ny.email.gs.com.
About Emeritus
Emeritus Senior Living is the nation's largest assisted living and
memory care provider, with the ability to serve approximately 50,000
residents. Over 30,000 employees support more than 480 communities
throughout 45 states coast to coast. Emeritus offers the spectrum of
senior residential choices, care options and life enrichment programs
that fulfill individual needs and promote purposeful living throughout
the aging process. Emeritus' common stock is traded on the New York
Stock Exchange under the symbol ESC.
Source: Emeritus Corporation