Acadia Healthcare Announces Proposed Offering of $340 Million of Common Stock
June 09 2014 - 4:32PM
Business Wire
Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced a
proposed underwritten public primary offering of $340 million of
its common stock. In connection with the offering, certain selling
stockholders intend to grant to the underwriters a 30-day option to
purchase up to an additional 15% of the common stock in a secondary
offering. Acadia will not receive any proceeds from the sale of
shares by the selling stockholders pursuant to the exercise of the
underwriters’ option to purchase additional shares. To the extent
any of the selling stockholders elect not to grant the underwriters
an option to purchase some or all of these additional shares, the
Company will grant the underwriters an option to purchase such
additional shares.
Acadia intends to use its proceeds from the offering principally
to fund its acquisition strategy, particularly the planned
acquisition of Partnerships in Care and the fees and expenses
related to the transaction.
BofA Merrill Lynch, Jefferies LLC and Citigroup are acting as
joint book-running managers for the offering, and Raymond James
& Associates, Inc., RBC Capital Markets, LLC, Avondale
Partners, LLC, Robert W. Baird & Co. Incorporated and BMO
Capital Markets Corp are acting as co-managers. The offering is
subject to market conditions, and there can be no assurance as to
whether or when the offering may be completed, or as to the actual
size or terms of the offering. The offering will be made only by
means of a written prospectus, copies of which may be obtained by
contacting: (i) BofA Merrill Lynch, 222 Broadway, New York, New
York 10038, Attn: Prospectus Department or by e-mail at
dg.prospectus_requests@baml.com; (ii) Jefferies LLC, Attention:
Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd
Floor, New York, NY 10022, by telephone at (877) 547-6340 or by
e-mail at prospectus_department@jefferies.com; or (iii) Citigroup,
c/o Broadridge Financial Solution, 1155 Long Island Avenue,
Edgewood, NY 11717 or e-mail BATProspectusdept@citi.com.
The common stock described above will be offered by the Company
and the selling stockholders, as the case may be, pursuant to an
automatic shelf registration statement that was filed with the
Securities and Exchange Commission today. The specific terms of the
offering are described in a prospectus supplement to be filed with
the SEC in connection with the offering.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy these securities in any
jurisdiction in which such offer, solicitation or sale is
unlawful.
Acadia has filed a registration statement (including a
prospectus) with the SEC for the offering to which this
communication relates. Before you invest, you should read the
prospectus in that registration statement and other documents
Acadia has filed with the SEC for more complete information about
Acadia and this offering. You may get these documents for free by
visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively,
Acadia, any underwriter or any dealer participating in the offering
will arrange to send you the prospectus if you request them by
calling BofA Merrill Lynch at 866-500-5408.
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.
About Acadia
Acadia is a provider of inpatient behavioral healthcare
services. Acadia operates a network of 52 behavioral healthcare
facilities with more than 4,300 licensed beds in 24 states and
Puerto Rico. 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.
Acadia Healthcare Company, Inc.Brent Turner, President,
615-861-6000
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