BRENTWOOD, Tenn., May 17, 2019 /PRNewswire/ -- On Monday May 13, 2019, AAC Holdings, Inc.
(NYSE: AAC) hosted a conference call in which company
leadership discussed near term plans to improve its operational
results and balance sheet, including through potential transactions
involving the company's owned real estate. Company leadership
also discussed treatment industry trends and long-term strategic
observations.
Until May 27, 2019, a replay of
the conference call will be available at
ir.americanaddictioncenters.org or by dialing 1-877-344-7529
and entering the replay access code, 10131628.
The company is also preparing a plan to submit to the New York
Stock Exchange, Inc. (the "NYSE") to address the Company's plan to
improve its total market capitalization, following notice on
May 17, 2019 from the NYSE that the
Company's average market capitalization was less than the required
$50 million over a consecutive 30
trading-day period and that the most recently reported
stockholders' equity of the Company was also less than $50 million. By submitting the plan within
the next 45 days, the Company's common stock will continue to be
listed and traded on the NYSE and the Company expects to be
eligible for the NYSE's 18-month cure period. The NYSE notification
does not affect the Company's business operations, its United
States Securities and Exchange Commission reporting requirements,
or its debt agreements.
******
About American Addiction Centers
American Addiction
Centers is a leading provider of inpatient and outpatient substance
abuse treatment services. We treat clients who are struggling with
drug addiction, alcohol addiction, and co-occurring
mental/behavioral health issues. We currently operate substance
abuse treatment facilities located throughout the United States. These facilities are focused on
delivering effective clinical care and treatment solutions. For
more information, please find us at AmericanAddictionCenters.org or
follow us on Twitter @AAC_Tweet.
Forward Looking Statements
This release contains forward-looking statements within the
meaning of the federal securities laws. These forward-looking
statements are made only as of the date of this release. In some
cases, you can identify forward-looking statements by terms such as
"anticipates," "believes," "could," "estimates," "expects," "may,"
"potential," "predicts," "projects," "should," "will," "would," and
similar expressions intended to identify forward-looking
statements, although not all forward-looking statements contain
these words. Forward-looking statements may include information
concerning AAC Holdings, Inc.'s (collectively with its
subsidiaries; "AAC Holdings" or the "Company") possible or assumed
future results of operations, including descriptions of the
Company's revenue, profitability, outlook and overall business
strategy. These statements involve known and unknown risks,
uncertainties and other factors that may cause our actual results
and performance to be materially different from the information
contained in the forward-looking statements. These risks,
uncertainties and other factors include, without limitation: (i)
the Company's inability to effectively operate its facilities; (ii)
the Company's reliance on its sales and marketing program to
continuously attract and enroll clients; (iii) a reduction in
reimbursement rates by certain third-party payors for inpatient and
outpatient services and point-of-care and definitive lab testing;
(iv) the Company's failure to successfully achieve growth through
acquisitions and de novo projects; (v) risks associated with
estimates of the value of accounts receivable or deterioration in
collectability of accounts receivable; (vi) a failure to achieve
anticipated financial results from contemplated and prior
acquisitions; (vii) the possibility that a governmental entity may
prohibit, delay or refuse to grant approval for the consummation of
an acquisition; (viii) the Company's failure to achieve anticipated
financial results from contemplated and prior acquisitions; (ix) a
disruption in the Company's ability to perform diagnostic
laboratory services; (x) maintaining compliance with applicable
regulatory authorities, licensure and permits to operate the
Company's facilities and laboratories; (xi) a disruption in the
Company's business and reputational and economic risks associated
with the civil securities claims brought by shareholders or claims
by various parties; (xii) inability to meet the covenants in the
Company's loan documents or lack of borrowing capacity; and (xiii)
general economic conditions, as well as other risks discussed in
the "Risk Factors" section of the Company's Annual Report on Form
10-K for the year ended December 31,
2018 and other filings with the Securities and Exchange
Commission. As a result of these factors, we cannot assure you that
the forward-looking statements in this release will prove to be
accurate. Investors should not place undue reliance upon
forward-looking statements.
View original
content:http://www.prnewswire.com/news-releases/aac-webcast-replay-available-until-may-27-2019-300852749.html
SOURCE AAC Holdings, Inc.