The primary purpose of the Proposed Amendments is to increase the permitted Secured Leverage Ratio (as defined in the Indenture) contained in clause (29) of the definition of “Permitted Liens” in Section 1.01 of the Indenture from 3.0 to 1.0 to 3.5 to 1.0, subject to the satisfaction of certain requirements.
The implementation of the Proposed Amendments is subject to the valid delivery of consents by holders (as of the record date) of Notes constituting a majority of the outstanding principal amount of the Notes (the “Requisite Consents”), the acceptance of the consents by the Company, as well as the other conditions set forth in the Solicitation Documents, including the execution of a supplemental indenture effecting the Proposed Amendments. If these conditions are satisfied or waived, and the Proposed Amendments are implemented, the Proposed Amendments will become operative only upon the Company’s making consent payments to holders (as of the record date) of Notes who validly deliver and do not revoke their consents on or before the expiration date, as set forth in the Solicitation Documents.
The solicitation of consents is scheduled to expire at
This press release shall not constitute a solicitation of consents with respect to the Notes. The consent solicitation may only be made in accordance with and subject to the terms and conditions specified in the Solicitation Documents, which more fully set forth the terms and conditions of the consent solicitations.
This news release contains forward-looking statements. Generally words such as “may,” “will,” “should,” “could,” “anticipate,” “expect,” “intend,” “estimate,” “plan,” “continue,” and “believe” or the negative of or other variation on these and other similar expressions identify forward-looking statements. These forward-looking statements are made only as of the date of this news release. The Company does not undertake to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements are based on current expectations and involve risks and uncertainties.
Acadia is a provider of inpatient behavioral healthcare services. Acadia operates a network of 52 behavioral healthcare facilities with more than 4,300 licensed beds in 24 states and