UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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| Item 1.01. | Entry into a Material Definitive Agreement. |
On November 13, 2020, Acadia Healthcare Company, Inc. (the “Company”), entered into the Fourth Refinancing Facilities Amendment (the “Amendment”) to its Amended and Restated Credit Agreement, dated as of December 31, 2012, among the Company, the subsidiary guarantors party thereto, Bank of America, N.A., as administrative agent, swing line lender and L/C issuer, and the various lenders identified therein. The Company entered into the Amendment for the purpose of extending the maturity date of each of the existing revolving line of credit and the existing Tranche A term loan from November 30, 2021 to November 30, 2022. The Amendment was implemented by (1) replacing the prior revolving line of credit in an aggregate committed amount of $500.0 million with a new revolving line of credit in an aggregate committed amount of approximately $459.0 million and (2) replacing the prior Tranche A term loan in an aggregate outstanding principal amount of approximately $325.4 million with a new Tranche A term loan in an aggregate principal amount of approximately $318.9 million. The interest rate margin applicable to both facilities remains unchanged from the prior facilities, and the commitment fee applicable to the new revolving line of credit also remains unchanged from the prior revolving line of credit.
The foregoing is only a summary of the material terms of the Amendment and does not purport to be complete, and is qualified in its entirety by reference to the Amendment, a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.1 and incorporated herein by reference.
| Item 2.03. | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
To the extent required, the information set forth in Item 1.01 above is incorporated by reference into this Item 2.03.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit Number |
Description | |
| 10.1 | Fourth Refinancing Facilities Amendment, dated November 13, 2020, to the Amended and Restated Credit Agreement, dated December 31, 2012 (as amended, restated or otherwise modified to date), by and among Bank of America, NA (Administrative Agent, Swing Line Lender and L/C Issuer), the Company, the guarantors listed on the signature pages thereto, and the lenders listed on the signature pages thereto. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ACADIA HEALTHCARE COMPANY, INC. | ||||||
| Date: November 13, 2020 | By: | /s/ Christopher L. Howard | ||||
| Christopher L. Howard | ||||||
| Executive Vice President, General Counsel and Secretary | ||||||