Alternative Living Services has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of common stock.
The Brookfield, Wis.-based operator of assisted-living residences expects to sell 5 million shares at an estimated $15 to $17 per share. Some 2.2 million shares will be offered by the company and 2.8 million shares will be offered by certain stockholders. Some of the proceeds will be used to repay debt and finance construction, development and possible acquisitions.
Alternative Living Services operates 57 assisted-living residences in nine states.