William Blair and Raymond James will be the joint bookrunning managers
By Devika Patel
Knoxville, Tenn., Oct. 2 – AAC Holdings, Inc. said it priced its $75 million initial public offering of stock with an $11.25 million greenshoe. The deal was announced July 11.
The company will sell 5 million common shares at $15.00 per share.
William Blair & Co, LLC and Raymond James & Associates, Inc. are the joint bookrunning managers.
Settlement is expected Oct. 7.
Proceeds will be used to repay about $1.8 million of debt under the company’s revolving line of credit and term loan, for working capital and for other general corporate purposes, which may include acquisitions and facility developments.
The provider of inpatient substance abuse treatment services is based in Brentwood, Tenn. The company intends to list its common stock on the New York Stock Exchange under the symbol “AAC.”
| Issuer: | AAC Holdings, Inc.
|
| Issue: | Common stock
|
| Amount: | $75 million
|
| Greenshoe: | $11.25 million
|
| Shares: | 5 million
|
| Price: | $15.00
|
| Warrants: | No
|
| Bookrunners: | William Blair & Co, LLC and Raymond James & Associates, Inc.
|
| Co-manager: | Avondale Partners, LLC
|
| Announcement date: | July 11
|
| Pricing date: | Oct. 2
|
| Settlement date: | Oct. 7
|
| Stock symbol: | NYSE: AAC
|
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