Newton-based senior living and healthcare services company Five Star Quality Care Inc. has commenced a public offering of 10 million common shares.
Five Star Quality Care expects to use the proceeds of this offering for general business purposes, including repaying its outstanding bridge loan and for funding in part the cash purchase price of pending acquisitions and other possible future acquisitions, according to a statement. The underwriters may also be granted a 30-day option to purchase up to an additional 1.5 million common shares to cover over-allotments, if any.
The joint bookrunning managers for this offering are Jefferies & Co. Inc., Citi and UBS Investment Bank.





