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.