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Anyone aware why the trading halt occurred?
Short squeeze!
With 30% of the float in short positions...I feel like this is just the front end of the squeeze. All us who are long in AAC will still be here at the top!
New analyst with great outlook! AAC up over 6% on a day with broad market declines. I'm looking forward to the upcoming short squeeze.
Many UPGRADING their outlooks for AAC! Thomson Reuters, Market Edge...
Cover your shorts now - besides the one time debt extinguishment charge it's looking good!
Looking good today...let's keep up the momentum!
Same here, I'm holding for at least $20+
Vindicated! Hope all the FTER people still around. Jumped up almost $4 on the news!
http://www.bloomberg.com/news/articles/2016-03-18/aac-holdings-executives-won-t-face-murder-charges?cmpid=yhoo.headline
Anyone have thoughts on the prearranged stock selling by the execs? Bad news?
Anyone know why the drop?
It perplexes me that after every subsequent earnings release with great results, the stock heads in the opposite direction.
Rumor of the day: Sheldon Adelson attempting a hostile takeover of Wynn Resorts at $95 a share.
— Vital Vegas (@VitalVegas) December 30, 2015
What's the over/under on how many negative news articles hit tomorrow? At least one from Bleecker Street...
Thought the halt was for MATERIAL news
Great...article just out that says this BleekerStreet guy from the seeking alpha articles is a 21 yr old college kid...
http://www.readability.com/m?url=http://www.forbes.com/sites/nathanvardi/2015/08/04/college-kid-causes-aac-holdings-stock-to-plunge-by-as-much-as-50/?utm_campaign=yahootix&partner=yahootix
Got to love the disclosure on that article and the fact it was 10 minutes after market opened.
Aug. 4, 2015 9:40 AM ET | About: American Addiction Centers (AAC)
Disclosure: I am/we are short AAC. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
The shorters weren't satisfied the the PPS drop after the murder conviction announcement on the day of the earnings release.
Seeking alpha article stoked the fear last time and it worked again. Hopefully they are satisfied this time.
Yeah I waited a bit longer to make sure the hemorrhaging was over. Still got in under $17
All we know is....the shorters covered their positions. So if it was them behind any of this, they're now satisfied and there shouldn't be any resistance on the way back up!
I bought more in the dip today. Everything seems just reputation not fundamentals. Here's to hoping
Yeah I haven't seen any predictions floating around on if they plan to meet/exceed that estimate.
$0.10 Here too:
http://m.nasdaq.com/earnings/report/aac
Based on the earnings feature in research section in Scottrade...it says the two analysts covering AAC have a consensus of $0.10 per share.
Looks like Bleecker Street didn't get what they wanted with the last article. Just seems like a desperate attempt to make something out of nothing to cover their short position.
Feb 24 is very far away with how this has been looking. Seems to have been sliding massively since they awarded those stock options to their officers in early Jan.
I'm sticking it out, at least until their 10-K. I definitely see the potential and think there will be a pretty large upswing with all the talk of adjusting their expected earnings up and when more news of the acquisition is released.
Confirmed with broker that FTER has been delisted as of today just as Renee's link says. She said there's still no date on it though, and referred me to investor relations. I'm sure this is the point they determine ownership of shares.
I know the bid/ask spread is pretty wide right now, but I just don't get why anyone would be buying FTER at $60 or selling at $22...
On another note, what's up with the AAC dive?
Anyone have any movement on the conversion? Shares converted or any new info?
You think they'll wait for the conversion until after dissenter's rights expire? Prospectus says that dissenters have 30 days from when the prospectus is received. Since most of us received the prospectus on 11/15, one could assume that on 12/15 they'll start converting?
I received the Notice of Merger/Prospectus from Scottrade on Saturday which reflects the merger date of 11/10/14 instead of the blanks that were on the S-4. Looks like it's moving forward.
The notice states "American Addiction Centers, Inc. stockholders must complete and execute the enclosed Letter of Transmittal and deliver the Letter of Transmittal to American Stock Transfer & Trust Company, LLC..."
But then on the Q&A it states "You will receive written instructions and a letter of transmittal from our transfer agent..."
So you think we can fill out the Letter of Transmittal that's included with the notice/prospectus as appendix D, or do we have to wait until AST sends one?
But the merger is only 293,240 new Hokdings shares into the 5,750,000 issued in the IPO. You think that will dilute the Holdings shares by much?
A "Merge In" document was just filed today (11/10/14) under American Addiction Centers, Inc. with the NV Secretary of State!! (Entity #: E0159552007-6 / Document #: 20140756316-35)
A "Merge Out" document was also filed today (11/10/14) under AAC Merger Sub, LLC (Entity#: E0548322014-9 / Document#: 20140756316-35). AAC Merger Sub, LLC is now considered "Merge Dissolved".
So guess what ladies and gents! Looks like the merger is effective as of today. So step one in the bold has happened...now just need it to keep going! I wonder if trading will cease tomorrow?
"As a result of the Merger, American Addiction Centers, Inc. will be the surviving corporation and the separate corporate existence of Merger Sub will cease. Each
outstanding share of American Addiction Centers, Inc. common stock, par value $0.001 per share (“AAC Common Stock”), other than shares held by Merger Sub, will be
canceled and converted in the Merger into the right to receive 1.571119 shares of AAC Holdings, Inc. common stock, par value $0.001 per share (“Holdings Common
Stock”).
Found this in the actual agreement on page A-1:
"the Merger shall become effective upon the filing of the Articles of Merger with the Secretary of State of the State of Nevada (the “Effective Time”)."
I looked on the Secretary of State website for AAC Holdings, Inc., AAC Merger Sub, LLC, and American Addiction Centers, Inc. and found no filings for the Articles of Merger. Who knows that it's not stamped as filed on a clerk's desk and not uploaded into the website, but still looks like the merger is not considered effective yet.
What I don't understand is, the s-4 says:
"Pursuant to the merger, for each share of AAC common stock you own at the effective time of the merger, you will receive 1.571119 shares of Holdings common stock. "
But on page 111 it says this:
"Pursuant to NRS 92A.470, AAC may elect to withhold payment from you if you were not the beneficial owner of shares of AAC common stock before October 31, 2014, representing the date of the first announcement of the merger and the terms of the merger to the news media."
Page 111 deals with dissenters rights. But it almost makes me think that you had to have been the owner of the shares prior to the filing of the s-4 in order to benefit from the merger. If that's the case, what happens to the shares that were scooped up after 10/31? Or does this not count as the "effective time of the merger" as stated in the first quote?
Some new info for all that are interested...
I called the transfer agent: American Stock Transfer & Trust Company, LLC and the representative, Sarah, stated that she did not see any mailings in their system to indicate that they sent out the Letter of Transmittal. However, the normal process is that the company (so AAC Holdings, Inc. in this case) will issue a press release and then at that time they will send out the mailing. She said that it takes about a month for the process to be carried out, so we may have to wait a month to get the transfer packet to sign to get out new shares of AAC.
The Form S-4 also mentions "AAC Merger Sub, LLC is a newly-formed Nevada limited liability company organized by Holdings for the sole purpose of effecting the merger.
I also looked on the Secretary of State website for Nevada and saw that AAC Merger Sub, LLC filed its Articles of Organization with the state on 10/28/14, 3 days before the S-4 form was filed with SEC.