Jefferies and Citigroup are bookrunners; proceeds fund acquisitions
By Devika Patel
Knoxville, Tenn., Dec. 15 - Acadia Healthcare Co., Inc. said it priced a $62.5 million public sale of stock with a $9.37 million greenshoe. The deal was announced Nov. 23.
The company will sell 8,333,333 common shares at $7.50 apiece. The price per share is a 0.27% discount to the Dec. 14 closing share price of $7.52.
Jefferies & Co., Inc. and Citigroup are the joint bookrunning managers. Raymond James & Associates, Inc., RBC Capital Markets, LLC and Avondale Partners, LLC are co-managers.
Proceeds will be used for the company's acquisition strategy, general corporate purposes, debt repayment and investments in bonds or other debt.
Acadia is a Franklin, Tenn.-based inpatient behavioral health care services provider.
| Issuer: | Acadia Healthcare Co., Inc.
|
| Issue: | Common shares
|
| Amount: | $62.5 million
|
| Greenshoe: | $9,374,993
|
| Shares: | 8,333,333
|
| Price: | $7.50
|
| Warrants: | No
|
| Bookrunners: | Jefferies & Co., Inc. and Citigroup
|
| Announcement date: | Nov. 23
|
| Pricing date: | Dec. 15
|
| Stock symbol: | Nasdaq: ACHC
|
| Stock price: | $7.52 at close Dec. 14
|
| Market capitalization: | $150.06 million
|
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