# Conversant Capital LLC — restructuring/exchange_offer [announced]
Source: SEC API (secapi.ai) · situation sit_6f7fb6930d994d6a5c5c · retrieved 2026-08-14T01:42:01.058Z

## Overview
Sonida Senior Living, Inc. operates nursing and personal care facilities.

On March 11, 2026, Sonida Senior Living entered into a Conversion and Extension Agreement with Conversant Dallas Parkway (A) LP and Conversant Dallas Parkway (B) LP, reducing the conversion price of 41,250 shares of Series A Preferred Stock from $40.00 to $32.00 per share and converting all outstanding Series A Preferred Stock into 1,601,505 shares of Common Stock. Following a stockholder lawsuit challenging the validity of the Series A conversion, the parties entered into an Exchange Agreement dated August 10, 2026 to resolve the dispute. Under the Exchange Agreement, the Issuer issued 41,250 shares of newly designated Series B Convertible Preferred Stock (with a $32.00 conversion price) to Investor A and Investor B in exchange for surrender of the contested shares and any remaining Series A Preferred Stock, and then immediately converted all 41,250 shares of Series B Preferred Stock into 1,601,505 shares of Common Stock. No cash payment was made in connection with the exchange.

## Terms
- Counterparty: Conversant Dallas Parkway (A) LP and Conversant Dallas Parkway (B) LP · Consideration: stock · Stake: 32.3%

## Key dates
- Announced 2026-08-11

## Timeline
- 2026-08-11 · SCHEDULE 13D/A (0000895345-26-000352): SCHEDULE 13D/A - Conversant Capital LLC — *Sonida Senior Living, Inc. operates nursing and personal care facilities.* On March 11, 2026, Sonida Senior Living entered into a Conversion and Extension Agreement with Conversant Dallas Parkway (A) LP and Conversant Dallas Parkway (B) LP, reducing the conversion price of 41,250 shares of Series A Preferred Stock from $40.00 to $32.00 per share and converting all outstanding Series A Preferred Stock into 1,601,505 shares of Common Stock. Following a stockholder lawsuit challenging the validity of the Series A conversion, the parties entered into an Exchange Agreement dated August 10, 2026 to resolve the dispute. Under the Exchange Agreement, the Issuer issued 41,250 shares of newly designated Series B Convertible Preferred Stock (with a $32.00 conversion price) to Investor A and Investor B in exchange for surrender of the contested shares and any remaining Series A Preferred Stock, and then immediately converted all 41,250 shares of Series B Preferred Stock into 1,601,505 shares of Common Stock. No cash payment was made in connection with the exchange.
  https://www.sec.gov/Archives/edgar/data/1850901/0000895345-26-000352.txt

## Citations
- 0000895345-26-000352 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000089534526000352