BOSTON (Reuters) – Invictus Global Management is a major shareholder of Capital Senior Living (NYSE.) Corp and will offer other financing, according to two sources close the credit fund.

Invictus is an Austin-based company that specialises in debt financing. It has offered cash to stop the plans of Conversant Capital to raise capital via a private placement convertible preferred stock.

Sources claimed that Invictus would offer $150 million more capital than the current plan, but they did not give details. Sources said that Invictus was open to discussing its proposal with Conversant.

Conversant’s proposed financing deal will be voted on by shareholders next month. From Oct. 12, the company pushed forward its shareholder meeting for Wednesday to October 22.

Ortelius Advisors an activist investor, who owns around 13% Capital Senior Living, offered to help shareholders avoid Conversant’s plan.

Ortelius Advisors has prepared a termsheet for Capital Senior Living’s $46million bridge loan. This is in case Capital Senior Living needs additional financing.

Conversant Capital announced the deal with Capital Senior Living earlier this summer. Conversant agreed to support an associated rights offer and to issue additional debt at 15% interest rates.

Both the COVID-19 epidemic and falling occupancy rates have had a devastating effect on senior living.