Acadia Healthcare (NASDAQ:ACHC) today announced the final pricing and number of common stock shares offered for sale, after initially proposing the stock offering Dec. 4.
The registered offering consists of 10,576,623 shares of common stock, priced at $22.50 per share. Of the total, 7 million shares are offered for sale by Acadia Healthcare, the remaining stock to be sold is currently held by certain shareholders, who have agreed to the offering. Acadia shares closed yesterday at $22.84.
Underwriters for the deal include Bank of America/Merrill Lynch (NYSE:BAC), Citigroup (NYSE:C), and Jefferies Group (NYSE:JEF). Acadia will make available for sale to the underwriters up to 1.58 million shares during an agreed upon 30-day period.
Proceeds from the sale will be used for Acadia Healthcare's acquisition strategy, including its purchase of Behavioral Centers of America and AmiCare Behavioral Centers, as well as for general corporate purposes.
Tim Brugger has no positions in the stocks mentioned above. The Motley Fool owns shares of Bank of America and Citigroup Inc. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.