Sonida Senior Living, Inc. announced the completion of its previously announced merger with CNL Healthcare Properties, Inc. with Sonida having acquired 100% of CHP in a cash and stock transaction valued at approximately $1.8 billion. Michael Simanovsky, Founder and Managing Partner of Conversant Capital, Sonida?s largest shareholder, was appointed as Board Chairman effective as of the closing of the transaction. Sam Levinson of Silk Partners, Sonida?s second largest shareholder, will join the Board as Silk?s appointee effective May 1, 2026.
On March 11, 2026, the Board accepted the resignations of Elliott R. Zibel, David W. Johnson, and Noah R. Beren as directors on the Board effective as of the effective time of the Second Merger (the Second Merger Effective Time), and appointed as directors on the Board, effective as of the Second Merger Effective Time, Michael Simanovsky as Chairperson of the Board, and Stephen H. Mauldin and J. Chandler Martin. Such resignations were not as a result of any disagreement with the Company known to an executive officer of the Company on any matter relating to the Company?s operations, practices or policies. In addition, effective immediately prior to Mr. Levinson?s appointment, Shmuel S.Z. Lieberman will resign as a member of the Board.
Such resignation is not as a result of any disagreement with the Company known to an executive officer of the Company on any matter relating to the Company?s operations, practices or policies. On April 16, 2026, Shmuel S.Z. Lieberman, an independent director of the Board of Directors of Sonida Senior Living, Inc., notified the Board of his resignation from his position as an independent director of the Board effective April 27, 2026. There is no disagreement between Mr. Lieberman and the Company on any matter relating to the Company?s operations, policies or practices.
on April 16, 2026, the Board appointed Sam Levinson to the Board as a Class II director of the Company, effective April 27, 2026, for a term scheduled to expire, along with the Company?s other Class II directors, at the Company?s 2026 annual meeting of stockholders. Mr. Levinson?s appointment was made to fill the vacancy in the Class II directors of the Board resulting from Mr. Lieberman?s resignation. Additionally, Mr. Levinson was appointed to the Board?s Compensation Committee.
Mr. Levinson will serve as a director designee of Silk Partners LP, a stockholder of the Company, pursuant to the terms of the Amended and Restated Investor Rights Agreement (the ?Investor Rights Agreement?), dated as of March 10, 2026, by and among the Company, certain affiliates of Conversant Capital LLC (the ?Conversant Parties?) and Silk. The Board has determined that Mr. Levinson qualifies as an independent director under the listing standards of the New York Stock Exchange.
