Acadia Healthcare (ACHC) Announces 9.58M Common Offering

December 4, 2012 6:04 AM EST
Acadia Healthcare Company, Inc. (NASDAQ: ACHC) announced an offering of 9,576,624 shares of its common stock. The Company will be offering 6,000,000 shares of common stock and selling stockholders will be offering 3,576,624 shares of common stock. In addition, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock, and the selling stockholders, collectively, intend to grant the underwriters a 30-day option to purchase up to an additional 536,495 shares of common stock, all at the public offering price less the underwriting discount.

Acadia intends to use the proceeds from this offering principally to fund its acquisition strategy, particularly the planned acquisitions of Behavioral Centers of America, LLC and AmiCare Behavioral Centers, LLC, and otherwise for general corporate purposes, which may include the repayment of debt under its senior secured credit facility. Acadia will not receive any proceeds from the sale of shares by the selling stockholders.

BofA Merrill Lynch, Citigroup and Jefferies & Company, Inc. are acting as joint book-running managers for the offering, and Raymond James & Associates, Inc., RBC Capital Markets, LLC and Avondale Partners, LLC are acting as co-managers.

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