Acadia Healthcare Commences Tender Offer for Any and All of Its 12.875% Senior Notes Due 2018
September 14 2015 - 8:28AM
Business Wire
Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced
that it has commenced a cash tender offer (the “Tender Offer”) for
any and all of its outstanding 12.875% Senior Notes due 2018 (the
“Notes”).
The Tender Offer is scheduled to expire at 5:00 p.m., New York
City time, September 18, 2015, unless extended or earlier
terminated (such time, as may be extended, the “Expiration Time”).
Holders who validly tender (and do not validly withdraw) their
Notes prior to the Expiration Time will be eligible to receive
$1,078 for each $1,000 principal amount of such tendered Notes. In
addition to the purchase price, holders of Notes that are validly
tendered and accepted for purchase will also receive accrued and
unpaid interest to, but not including, the settlement date for the
Tender Offer, which we currently expect to be September 21,
2015.
Tendered Notes may be withdrawn at any time at or prior to (i)
the Expiration Time or (ii) if the Tender Offer is extended, the
10th business day after the commencement of the Tender Offer.
Tendered Notes may also be withdrawn after the 60th business day
after commencement of the Tender Offer if for any reason the Tender
Offer has not been consummated within 60 business days after
commencement of the Tender Offer. Completion of the Tender Offer is
subject to certain market and other conditions, including the
consummation of the concurrently announced financing
transaction.
The Company intends to deliver a notice of redemption to redeem
any Notes outstanding following the consummation of the Tender
Offer that are not purchased pursuant to the Tender Offer.
The complete terms and conditions of the Tender Offer are
described in the Offer to Purchase dated as of September 14, 2015,
the related Letter of Transmittal and the Notice of Guaranteed
Delivery, copies of which may be obtained from Ipreo LLC, the
information agent and tender agent for the Tender Offer, at
https://www.debtdomain.com/p/acadia/index.html, or by telephone at
(212) 849-3880 (collect) or at (888) 593-9546 (toll-free).
The Company has retained Jefferies LLC and BofA Merrill Lynch to
serve as the dealer managers for the Tender Offer. Questions
regarding the Tender Offer may be directed to Jefferies LLC at
Attn: Justin Polselli, (888) 708-5831 (toll-free), (212) 363-8273
(New York) and to BofA Merrill Lynch at Attn: Edward Stansky,
(888) 292-0070 (toll-free), (980) 387-9534 (collect).
None of the Company, the trustee, the dealer managers or the
information agent and tender agent make any recommendations as to
whether holders should tender their Notes pursuant to the Tender
Offer, and no one has been authorized by any of them to make such
recommendations. Holders must make their own decisions as to
whether to tender their Notes, and, if so, the principal amount of
Notes to tender.
This press release shall not constitute an offer to purchase or
a solicitation of an offer to purchase or sell the Notes or any
other securities, nor shall there be any purchase of the Notes in
any state or jurisdiction in which such offer, solicitation or
purchase would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction.
The Tender Offer is being made solely pursuant to the Offer to
Purchase dated as of September 14, 2015, the related Letter of
Transmittal and the Notice of Guaranteed Delivery, which set forth
the complete terms of the Tender Offer.
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 health services.
Acadia operates a network of 232 behavioral health facilities with
more than 9,400 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20150914005615/en/
Acadia Healthcare Company, Inc.Brent Turner,
615-861-6000President
Acadia Healthcare (NASDAQ:ACHC)
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