AAC Holdings, Inc. Announces Pricing of Initial Public Offering
AAC Holdings, Inc. (NYSE:AAC) (the “Company”), the parent holding company of American Addiction Centers, Inc., announced today the pricing of its initial public offering of 5,000,000 shares of common stock at a price to the public of $15.00 per share, for a total of approximately $65.6 million of net proceeds after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. In connection with the offering, the Company and certain selling stockholders have granted the underwriters a 30-day over-allotment option to purchase up to an additional 750,000 shares of common stock. The shares are expected to begin trading tomorrow, October 2, 2014, on the New York Stock Exchange under the symbol “AAC.” The offering is expected to close on October 7, 2014.
William Blair & Company, L.L.C. and Raymond James & Associates, Inc. are serving as joint book-running managers for the offering, and Avondale Partners, LLC is serving as co-manager.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on October 1, 2014. This offering is being made only by means of a preliminary prospectus forming part of the effective registration statement, copies of which may be obtained from William Blair & Company, L.L.C., Attention: Prospectus Department, 222 West Adams Street, Chicago, IL 60606, Telephone: (800) 621-0687 or by email at email@example.com and Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, FL 33716, Telephone: (800) 248-8863 or by email at firstname.lastname@example.org. The final prospectus, when it is available, also may be obtained on the Securities and Exchange Commission’s website at http://www.sec.gov.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, or any solicitation of an offer to buy, these securities, in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About American Addiction Centers
American Addiction Centers is a leading provider of inpatient substance abuse treatment services. We treat adults as well as adolescents who are struggling with drug addiction, alcohol addiction, and co-occurring mental/behavioral health issues. We operate six substance abuse treatment facilities located throughout the United States, focused on delivering effective clinical care and treatment solutions.
Forward Looking Statements
This press release contains forward looking statements within the meaning of the federal securities laws. These forward looking statements are based upon the Company’s present expectations, but these statements are not guaranteed to occur. For example, because this offering has priced may imply that the offering will close, but the closing is subject to certain conditions customary in transactions of this type and may be delayed or may not occur at all. In addition, the underwriters’ option to purchase additional shares may imply that this option will be exercised; however, the underwriters are not under any obligation to exercise this option, or any portion of it, and may not do so. Investors should not place undue reliance upon forward looking statements. For further discussion of the factors that could affect outcomes, please refer to the “Risk Factors” section of the prospectus.
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