SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2017

SUBSEQUENT EVENTS

11. SUBSEQUENT EVENTS

On October 13, 2017, CoreCivic completed the offering of $250.0 million aggregate principal amount of 4.75% senior notes due October 15, 2027 (the "4.75% Senior Notes").  Interest on the 4.75% Senior Notes accrues at the stated rate and is payable in April and October of each year.  CoreCivic expects to capitalize approximately $4.1 million during the fourth quarter of 2017 for costs associated with the new issuance of the 4.75% Senior Notes, and will present the unamortized balance of the debt issuance costs in the Company's consolidated balance sheets in a manner consistent with those related to the Company's other Senior Notes.  CoreCivic used net proceeds from the offering to pay down a portion of the $900.0 Million Revolving Credit Facility and to pay related fees and expenses.  

On November 1, 2017, CoreCivic completed the acquisition of Time to Change, Inc., a Colorado-based community corrections company, for an aggregate purchase price of $13.2 million, excluding transaction related expenses, with the potential for additional contingent consideration currently estimated to be $9.0 million, subject to change based upon future financial performance of the acquisition.  In connection with the acquisition, CoreCivic assumed contracts with Adams County, Colorado to provide reentry services to male and female adults in three facilities located in Colorado containing a total of 422 beds.