Acadia Healthcare Announces Closing of Equity Offering and Underwriters’ Exercise of Option to Purchase Additional Shares
May 11 2015 - 4:09PM
Business Wire
Acadia Healthcare Company, Inc. (“Acadia” or the “Company”)
(NASDAQ: ACHC) today announced the completion of an underwritten
public offering of 5,175,000 shares of Acadia’s common stock.
Included in the shares are 675,000 shares sold by Acadia pursuant
to the underwriters’ exercise in full of their option to purchase
additional shares of common stock.
The shares of common stock were sold at a public offering price
of $66.50 per share, for net proceeds to Acadia of approximately
$331.1 million, after underwriting discounts and commissions and
estimated offering expenses. Acadia intends to use the proceeds
from the offering to repay outstanding indebtedness on the
revolving line of credit under its existing amended and restated
senior credit agreement, to fund its acquisition activity and for
general corporate purposes.
BofA Merrill Lynch, Jefferies and UBS Investment Bank acted as
joint book-running managers for the offering, and Citigroup,
Raymond James, RBC Capital Markets, Avondale Partners, Baird and
Craig-Hallum Capital Group acted as co-managers. The shares of
common stock were offered pursuant to the Company’s shelf
registration statement on file with the Securities and Exchange
Commission. The offering was made solely by means of a prospectus
supplement and accompanying 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, 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) UBS
Investment Bank, Attention: Prospectus Department, 1285 Avenue of
the Americas, New York, NY 10019, or by telephone at
(888) 827-7275.
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.
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 208 behavioral healthcare
facilities with approximately 8,600 beds in 37 states, the United
Kingdom 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,
615-861-6000President
Acadia Healthcare (NASDAQ:ACHC)
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