SPAC-Backed ATI Physical Therapy Seeks Capital, Debt Extension

ATI Physical Therapy Inc is seeking fresh capital and permission from existing lenders to push out its loan maturity, according to people with knowledge of the matter.

The struggling rehabilitation provider has tapped Evercore and Weil Gotshal & Manges to assist in negotiations with investors, while a group of term loan holders is getting advice from Gibson Dunn & Crutcher and PJT Partners, according to the people, who asked not to be identified because the talks are private.

ATI, which went public through a special purpose acquisition company, has roughly $557 million outstanding on a first lien loan due ...