BRENTWOOD, Tenn., June 3, 2019 /PRNewswire/ -- AAC Holdings, Inc.
(NYSE: AAC) announced today that it has formally engaged the
investment banking firm Cantor Fitzgerald & Co. as its
exclusive financial advisor with respect to potential strategic
corporate transactions involving the company's real estate and
other assets, as well as potential recapitalization or refinancing
transactions.
"We are committed to improving the company's balance sheet and
liquidity position and are fortunate to have diverse assets that
will allows us to discuss multiple transaction alternatives with
interested parties," said AAC's Chairman and CEO Michael Cartwright.
Earlier this year, AAC closed a $30
million incremental term loan. The Company had previously
announced its intent to explore strategic transactions including
those involving the company's real estate.
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.
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SOURCE AAC Holdings, Inc.