FRANKLIN, Tenn.--(BUSINESS WIRE)--Jun. 17, 2014--
Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced the
completion of an underwritten public offering of 8,886,363 shares of
Acadia’s common stock, reflecting 8,881,794 shares sold by Acadia and
4,569 shares sold by a selling stockholder. Included in the shares are
1,154,521 shares sold by Acadia and 4,569 shares sold by the selling
stockholder 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
$44.00 per share, for net proceeds to Acadia of approximately $374.0
million, after underwriting discounts and commissions and estimated
offering expenses. Acadia intends to use the net 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, and otherwise for general corporate
purposes. Acadia did not receive any proceeds from the sale of shares by
the selling stockholder.
BofA Merrill Lynch, Jefferies LLC and Citigroup acted 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 acted as co-managers.
The offering was 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
(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 email@example.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 was sold by Acadia and the selling
stockholder pursuant to an automatic shelf registration statement that
was filed with the Securities and Exchange Commission on June 9, 2014.
The specific terms of the offering are described in a final prospectus
supplement and accompanying prospectus that have been filed with the SEC
and are available for free on the SEC’s website at http://www.sec.gov.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy these securities, and shall not
constitute an offer, solicitation or sale in any jurisdiction in which
such offer, solicitation or sale is unlawful.
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
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
Source: Acadia Healthcare Company, Inc.
Acadia Healthcare Company, Inc.
Brent Turner, 615-861-6000