Acadia Healthcare Co. Inc. (ACHC: Quote) said Monday it has closed its earlier announced registered follow-on offering of 8.25 million shares of its common stock at a price of $15.50 per share.
Prior to closing, the underwriters exercised in full their option to purchase an additional 1.23 million shares of common stock, Acadia said.
Acadia received about $139 million in net proceeds from the offering, after certain expenses. The company said it plans to use the proceeds mainly to fund its acquisition strategy, and for general corporate purposes as well.
Citigroup, BofA Merrill Lynch and Jefferies & Co. Inc. acted as joint bookrunners for the offering. Raymond James & Associates Inc., RBC Capital Markets LLC and Avondale Partners LLC were the co-managers.
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by RTT Staff Writer
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