Eagle Senior Living Successfully Completes Financial Restructuring

Company Emerges from Chapter 11 with a Healthier Financial Foundation

Communities Continue to Operate Uninterrupted, Prioritizing Resident Health and Well-being

WILMINGTON, Del., Sept. 8, 2022 /PRNewswire/ -- American Eagle Delaware Holding Company LLC and certain of its subsidiaries (collectively, "Eagle Senior Living" or the "Company") today announced that they have successfully completed a comprehensive financial reorganization to achieve a more balanced and sustainable capital structure. The Company has implemented its plan of reorganization, approved by the U.S. Bankruptcy Court for the District of Delaware on April 27, 2022. Eagle Senior Living has significantly reduced its debt service and enhanced its liquidity position, creating a stronger financial foundation.

As part of the Chapter 11 process, Eagle Senior Living executed a transaction whereby the Company's Vista Lake community was acquired by Atlantis Senior Living LLC. The sale of Vista Lake has closed, and the Vista Lake community is no longer an Eagle Senior Living community. All other Eagle Senior Living communities continue to operate uninterrupted, providing high-quality care and amenities to all residents.

"Through this process, we have secured a bolstered financial structure—allowing our communities to be the place for residents to do more of what they love for years to come," said Todd Topliff, President of American Eagle Delaware Holding Company LLC. "I would like to thank our residents and their family members for their ongoing support, our business partners for their patience, and all of our loyal employees for their unwavering hard work and dedication to providing all residents with the highest quality of care as we have worked to complete this process. We are optimistic about our future."

Greenbrier Senior Living continues to manage all of the communities remaining with Eagle Senior Living.

For more information about Eagle Senior Living's Chapter 11 case, including the terms of the transactions consummated in connection with the Company's emergence, please visit https://dm.epiq11.com/eagleseniorliving, email [email protected] or call (800) 713-8096 for U.S. calls or +1 (503) 597-7731 for international calls.

Eagle Senior Living was represented in this matter by Polsinelli as legal counsel and FTI Consulting as restructuring and financial advisor.

About Eagle Senior Living

Established in 2018, Eagle Senior Living was founded with the recognition that our human spirit is elevated through meaningful relationships with others. It's why, across all our communities, residents and associates become like family. It's also the reason those individual communities work to become integrated into the fabric of their surrounding neighborhoods and cities. With 14 communities across seven states, our goal is to enrich the lives of older adults across the nation. Our locations offer independent living, assisted living and memory care.

The culture we foster throughout our organization is built to empower residents and employees through inclusive and purposeful programming that brings people together, because for us, people always come first. That means, in everything we do, our goal is to provide a comfortable place for seniors to live authentic and enriched lives, surrounded by opportunities to grow. Some call this approach best-in-class; we simply call it bringing out the best in each other.

These difference-making values are also shared with our management partner, Greenbrier Senior Living, whose mission is to empower and serve residents, families and associates with heart, passion and focus. For more information, visit https://www.eagleseniorliving.org/.

SOURCE American Eagle Delaware Holding Company LLC

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