FRANKLIN, Tenn.--(BUSINESS WIRE)--Jun. 11, 2014--
Acadia Healthcare Company, Inc. (NASDAQ: ACHC) (“Acadia” or the
“Company”) today announced the pricing of a registered offering of
7,727,273 shares of its common stock at a public offering price of
$44.00 per share, for gross proceeds to the Company of approximately
$340 million, before the underwriting discount and offering expenses. In
addition, the Company and a selling stockholder have granted the
underwriters a 30-day option to purchase up to an additional 1,154,521
and 4,569 shares of common stock, respectively, all at the public
offering price less the underwriting discount.
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. Acadia will not receive any proceeds from the sale of
shares by the selling stockholder.
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 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 e-mail 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 shares of common stock are being sold pursuant to the Company’s
automatic shelf registration statement on file with the Securities and
Exchange Commission. This press release shall not constitute an offer to
sell or a solicitation of an offer to buy, nor shall there be any sale
of these securities in any state or jurisdiction in which such an 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 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.
Source: Acadia Healthcare Company, Inc.
Acadia Healthcare Company, Inc.
Brent Turner, 615-861-6000
President