Sonida Senior Living issues 41,250 Series B preferred shares in unregistered sale under exchange deal
SNDA•Unregistered preferred share issuance under exchange deal
Sonida Senior Living completed an unregistered issuance of 41,250 shares of Series B Convertible Preferred Stock to Conversant Dallas Parkway (A) LP and (B) LP.
The Series B shares were exchanged for 1,601,505 common shares issued in March 2026 in a conversion now challenged in stockholder litigation.
Investors converted the Series B Preferred Stock into 1,601,505 common shares at a $32 conversion price.
No cash was paid in the exchange, and warrant terms held by the investors were unchanged.
The sale relied on the Securities Act Section 4(a)(2) private placement exemption.
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