Clearday, Inc. signed a letter of intent to acquire Two adjacent senior living properties Portfolio in the Southeastern United States for approximately $44 million.

Clearday, Inc. signed a letter of intent to acquire Two adjacent senior living properties Portfolio in the Southeastern United States for approximately $44 million on January 24, 2023. The letter of intent provides for an aggregate purchase price of approximately $44 million which is subject to specified and customary apportionments and adjustments. A special purpose subsidiary of Clearday expects to provide a draft purchase and sale agreement to the seller on or prior to January 30, 2023 and to be able to enter into this agreement soon thereafter.

Acquisition of these properties will be subject to customary closing conditions including the execution of a mutually acceptable purchase and sale agreement, the receipt of all regulatory approvals and financing on terms acceptable to Clearday. Last Spring Clearday engaged the international banking group, DelMorgan & Co. to raise capital based on Clearday business plan that includes opportunities to expand Clearday footprint and services in Senior Living to diversify Clearday income streams and provide a beachhead to for Clearday innovative care products and services.