Beverly to Sell Up to $300 Million in Debt Securities
by January 8, 2001 12:00 am 58 views
Nursing home operator Beverly Enterprises Inc. on Dec. 26 filed a shelf registration with the U.S. Securities and Exchange Commission that would allow the company to periodically sell up to $300 million in debt securities, common and preferred stock, and warrants.
The Fort Smith company plans to use the net proceeds for general corporate purposes, which may include working capital, capital expenditures, repayment of debt and acquisitions. Under a shelf registration, Beverly may sell securities from time to time in one or more separate offerings, with the size, price and terms to be determined at the time of sale.
Immediately after the announcement, Beverly shares were up 13 cents, to $7.44, in trading — near the company’s 52-week high of $7.63.