AACH, filed Bankruptcy, here:
AAC Holdings Gains Support From Lenders, Proceeds With Recapitalization Plan to Support Patient Care & Long-Term Growth
2020-06-20 20:00 ET - News Release
With Treatment Operations Unaffected, AAC Will Continue ProvidingHigh-Quality Patient Care
Company Recapitalizes with Initial $62.5M inIncremental Financing & Lower Debt Cost to Better Position the Company and Its Treatment Facilities for Long-Term Growth
AAC & Its Treatment Facilities Positioned for Long-Term Growth
BRENTWOOD, Tenn., June 20, 2020 (GLOBE NEWSWIRE) -- AAC Holdings, Inc. (“AAC” or the “Company”) (OTC: AACH), a leading provider of inpatient and outpatient substance abuse treatment services, today announced it has received the support of its Board of Directors and lenders to move forward with a strategic recapitalization plan. The plan is designed to significantly reduce the Company’s debt obligations and establish a sound financial platform for long-term growth, while maintaining AAC’s outstanding standards for patient care.
Maintaining its focus on compassionate patient care, life-saving treatment and positive outcomes, AAC’s operations will continue unchanged as the process moves forward over the next four months. All employees and clinical staff will continue to receive their normal wages and benefits to support their delivery of life-saving patient care.
