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Acadia Healthcare Company Inc Announces Underwriters` Exercise of Option to Purchase Additional Shares

Wednesday, 26 Dec 2012 08:35am EST 

Acadia Healthcare Company Inc announced sale of additional shares of common stock pursuant to the underwriters exercise in full of their option to purchase additional shares related to Company`s previously announced registered public offering of 10,576,623 shares that closed December 12, 2012. In exercising this option, underwriters purchased an additional 1,050,000 shares of common stock from Company and an additional 533,153 shares of common stock from certain of the selling stockholders, collectively, all at the public offering price less underwriting discounts and commissions. Acadia received approximately $173.0 million in net proceeds from the offering, after deducting underwriting discounts and commissions and estimated expenses of the offering, including approximately $22.7 million from exercise of the underwriters option. Acadia expects to use the net proceeds from the 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 did not receive any proceeds from the sale of shares by the selling stockholders. BofA Merrill Lynch, Citigroup and Jefferies & Company, Inc. acted as joint book-running managers for the offering, and RBC Capital Markets, Raymond James & Associates, Inc. and Avondale Partners, LLC acted as co-managers.