Acadia Healthcare Announces Underwriters’ Exercise of Option to Purchase Additional Shares
December 26 2012 - 8:35AM
Business Wire
Acadia Healthcare Company, Inc. (“Acadia” or the “Company”)
(NASDAQ: ACHC) today announced the sale of additional shares of
common stock pursuant to the underwriters’ exercise in full of
their option to purchase additional shares related to the Company’s
previously announced registered public offering of 10,576,623
shares that closed December 12, 2012. In exercising this option,
the underwriters purchased an additional 1,050,000 shares of common
stock from the Company and an additional 533,153 shares of common
stock from certain of the selling stockholders, collectively, all
at the public offering price less underwriting discounts and
commissions.
Acadia received approximately $173.0 million in net proceeds
from the offering, after deducting underwriting discounts and
commissions and estimated expenses of the offering, including
approximately $22.7 million from the exercise of the underwriters’
option. Acadia expects to use the net proceeds from the offering
principally to fund its acquisition strategy, particularly the
planned acquisitions of Behavioral Centers of America, LLC and
AmiCare Behavioral Centers, LLC, and otherwise for general
corporate purposes, which may include the repayment of debt under
its senior secured credit facility. Acadia did not receive any
proceeds from the sale of shares by the selling stockholders.
BofA Merrill Lynch, Citigroup and Jefferies & Company, Inc.
acted as joint book-running managers for the offering, and RBC
Capital Markets, Raymond James & Associates, Inc. and Avondale
Partners, LLC acted as co-managers. The offering was made only by
means of a written prospectus, copies of which may be obtained by
contacting: BofA Merrill Lynch, 222 Broadway, New York, New York
10038, Attn: Prospectus Department or email:
dg.prospectus_requests@baml.com; Citigroup, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717
(tel: 800-831-9146) or email: BATProspectusdept@citi.com; or from
Jefferies & Company, Inc., 520 Madison Ave., 12th Floor, New
York, NY 10022, Attn: Equity Syndicate Prospectus Department or
telephone (877) 547-6340 or email
Prospectus_Department@Jefferies.com. The shares of common stock
were sold pursuant to the Company’s existing effective shelf
registration statement on file with the Securities and Exchange
Commission. The final prospectus may also be obtained on the
Securities and Exchange Commission’s website at
http://www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of any offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
Forward-Looking Statements
This news release contains forward-looking statements. Generally
words such as “may,” “will,” “should,” “could,” “anticipate,”
“expect,” “intend,” “estimate,” “plan,” “continue,” and “believe”
or the negative of or other variation on these and other similar
expressions identify forward-looking statements. These
forward-looking statements are made only as of the date of this
news release. The Company does not undertake to update or revise
the forward-looking statements, whether as a result of new
information, future events or otherwise. Forward-looking statements
are based on current expectations and involve risks and
uncertainties and Acadia’s future results could differ
significantly from those expressed or implied by the
forward-looking statements.
About Acadia
Acadia is a provider of inpatient behavioral health care
services. Acadia operates a network of 34 behavioral health
facilities with approximately 2,500 licensed beds in 20 states.
Acadia provides psychiatric and chemical dependency services to its
patients in a variety of settings, including inpatient psychiatric
hospitals, residential treatment centers, outpatient clinics and
therapeutic school-based programs.
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