New Issue: AAC Holdings issues $5 million 12% senior notes to Deerfield Partners

By Lisa Kerner

Charlotte, N.C., April 20 – AAC Holdings, Inc. issued $5 million of 12% senior subordinated notes due 2020 on April 15, according to a form 8-K filed with the Securities and Exchange Commission.

The notes were issued in amounts of $2.5 million to Deerfield Private Design Fund III, LP, $1.4 million to Deerfield International Master Fund, LP and $1.1 million to Deerfield Partners, LP.

Proceeds will be used to fund AAC’s purchase of a 100-room hotel in Arlington, Texas, that the company expects to convert into sober living beds.

AAC is a Brentwood, Tenn.-based provider of inpatient substance abuse treatment services.

Issuer:	AAC Holdings, Inc.
Issue:	Senior subordinated notes
Amount:	$5 million
Coupon:	12%
Maturity:	Oct. 2, 2020
Purchasers:	Deerfield Private Design Fund III, LP ($2.5 million), Deerfield International Master Fund, LP ($1.4 million) and Deerfield Partners, LP ($1.1 million)
Settlement:	April 15
Distribution:	Private placement

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