AAC Holdings Prices IPO Above Range

(RTTNews) - AAC Holdings, Inc. (AAC), the parent holding company of American Addiction Centers, Inc., said Wednesday that it has priced its initial public offering of 5 million shares of common stock at a price to the public of $15 per share, for a total of about $65.6 million of net proceeds after deducting underwriting discounts and commissions and estimated offering expenses payable by the company.

The company has previously expected to price its IPO in a range of $12 to $14 per share.

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 on Thursday, October 2, on the New York Stock Exchange under the symbol "AAC."

The offering is expected to close on October 7.