ATI Physical Therapy Closes $26 Million 8% Second Lien PIK Convertible Note Financing
Summary
DOWNERS GROVE, Ill., March 4, 2025 /PRNewswire/ -- ATI Physical Therapy, Inc. (OTCMKTS: ATIP) ("ATI" or the "Company"), a nationally recognized outpatient physical therapy provider in the United States, announced today that on March 3, 2025, it closed a $26 million 8% second lien PIK convertible note financing. "This new financing is a critical step in fortifying our financial foundation and positioning us to execute on our strategic vision," said Sharon Vitti, Chief Executive Officer.Pursuant to the financing, the Company issued to certain of its existing preferred equity holders new second lien PIK convertible notes in an aggregate principal amount of $26 million. The notes mature on August 24, 2028 and bear interest at a rate of 8% per annum, payable quarterly in-kind in the form of additional notes by capitalizing the amount of such interest on the outstanding principal balance of the notes in arrears on each interest payment date.Additional information is available on the Companys Current Report on Form 8-K filed today with the U.S. Securities and Exchange Commission (the "SEC"), which is available free of charge at the SECs website, www.sec.gov, and on ATIs website at https://investors.atipt.com.At ATI Physical Therapy, we are committed to making every life an active life. Forward-looking statements may be identified by the use of the words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "project," "forecast," "predict," "potential," "seem," "seek," "future," "outlook," "target" or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are inherently uncertain and you are cautioned not to unduly rely upon these statements.Scott RundellInterim Chief Financial Officer and Head of Investor RelationsATI Physical Therapy [email protected]