Released by Civitas: 09/16/2014
BOSTON–(BUSINESS WIRE)–Civitas Solutions, Inc. (“Civitas” or the “Company”) announced today that it has priced the underwritten initial public offering of 11,700,000 shares of its common stock at a price to the public of $17.00 per share. In connection with the offering, Civitas has granted the underwriters a 30-day option to purchase up to an additional 1,755,000 shares. The shares are expected to begin trading on the New York Stock Exchange beginning on September 17, 2014 and will trade under the symbol “CIVI.” The offering is expected to close on September 22, 2014.

Civitas expects to receive proceeds from this offering, after deducting estimated underwriting discounts and commissions and offering expenses payable by the Company, of approximately $182.2 million. Civitas intends to use the proceeds from this offering, together with cash on hand, to (i) redeem $162.0 million in aggregate principal amount of the senior notes issued by National Mentor Holdings, Inc. at a redemption price of 106.25% plus accrued and unpaid interest thereon to the date of redemption and (ii) pay a transaction advisory fee to its equity sponsor under a management agreement that will terminate upon completion of the offering.

Barclays Capital Inc., BofA Merrill Lynch and UBS Securities LLC are serving as representatives of the underwriters and joint book-running managers for the offering. Raymond James & Associates, Inc., SunTrust Robinson Humphrey, Inc., BMO Capital Markets Corp. and Avondale Partners, LLC are acting as co-managers.