Acadia files $200M shelf

Behavioral health operator preps for more growth, deals

Franklin-based Acadia Healthcare has filed papers to raise up to $200 million through the sale of common stock.

The behavioral health care chain run by Joey Jacobs and other former Psychiatric Solutions executives said in a filing with the Securities and Exchange Commission that proceeds from any future sales are likely to be used for capital spending and acquisitions as well as the refinancing or buyback of stock or debt. The shelf filing will let the company sell up to 18.5 million shares. If that number is reached, Acadia's outstanding share count will have grown by more than 40 percent.

Shares of Acadia (Ticker: ACHC) closed down slightly Tuesday at $22.54. So far in 2012, they've climbed more than 120 percent.