FRANKLIN, Tenn.--(BUSINESS WIRE)--Jan. 12, 2016--
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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Source: Acadia Healthcare Company, Inc.
Acadia Healthcare Company, Inc.
Brent Turner, 615-861-6000
President
