Acadia Healthcare Announces Closing of Equity Offering and Underwriters’ Exercise of Option to Purchase Additional Shares
January 12 2016 - 4:05PM
Business Wire
Acadia Healthcare Company, Inc. (NASDAQ: ACHC) (“Acadia” or the
“Company”) today announced the completion of an underwritten public
offering of 11,500,000 shares of Acadia’s common stock. Included in
the shares are 1,500,000 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 $61.00 per share, for net proceeds to Acadia of approximately
$683.5 million, after underwriting discounts and commissions and
estimated offering expenses. Acadia intends to use the net proceeds
from the offering to fund its acquisition strategy, particularly to
fund a portion of the purchase price for its planned acquisition of
the Priory Group and the fees and expenses related to the
transaction. Of the net proceeds, approximately $89.2 million
resulting from the underwriters’ exercise in full of their option
to purchase additional shares will be paid to certain shareholders
of the Priory Group at closing of the acquisition and will reduce
the number of shares of Acadia common stock to be issued to such
shareholders from 5,533,561 shares to 4,033,561 shares.
BofA Merrill Lynch and Jefferies LLC acted as joint book-running
managers for the offering. 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 or (ii) Jefferies LLC, Attention:
Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd
Floor, New York, NY 10022, or by e-mail at
Prospectus_Department@Jefferies.com or by telephone at (877)
821-7388.
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 258 behavioral healthcare
facilities with more than 9,900 beds in 39 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/20160112006490/en/
Acadia Healthcare Company, Inc.Brent Turner,
615-861-6000President
Acadia Healthcare (NASDAQ:ACHC)
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