03:49 AM EDT, 08/16/2024 (MT Newswires) -- Sonida Senior Living ( SNDA ) said late Thursday it agreed to acquire a portfolio of eight senior living assets located in Florida and South Carolina for $103 million.

The portfolio, which consists of 555 housing units, is approximately 83% occupied, the company said.

The Florida communities are located in Jacksonville, Orlando and Daytona Beach, while the South Carolina ones are in Hilton Head, Charleston and Florence.

The deal will boost the company's operating portfolio to 91 communities.

Separately, the company said it priced an underwritten public offering of 4.3 million common shares at $27 per share.

The underwriters have been granted a 30-day option to purchase up to 645,000 additional shares.

A $102.9 million portion of the net proceeds will be used to fund the acquisition of the eight senior living communities, while the remainder will be used for general corporate purposes, the company said.

The offering, which has been upsized from 4 million shares, is expected to close on Aug. 19, subject to customary conditions.

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