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BANNOCKBURN, Ill., July 21, 2020 (GLOBE NEWSWIRE) -- Option Care Health, Inc. (“Option Care Health” or the “Company”) (NASDAQ: OPCH) announced today the pricing of an underwritten offering of 18,000,000 shares of its common stock, which includes 10,000,000 shares offered by the Company and 8,000,000 shares offered by an affiliate of Madison Dearborn Partners (the “Selling Stockholder”), at a price to the public of $12.50 per share. The Selling Stockholder has granted the underwriters a 30-day option to purchase up to 2,700,000 additional shares of common stock. The offering is expected to close on July 24, 2020, subject to customary closing conditions.
The Company intends to use the net proceeds received by the Company from the sale of shares of common stock in the offering to repay a portion of its senior secured second lien PIK toggle floating rate notes due 2027. The Selling Stockholder will receive all of the net proceeds from the sale of shares of common stock sold by it in the offering.
BofA Securities is acting as lead bookrunner with Barclays, Deutsche Bank Securities, Goldman Sachs & Co. LLC, J.P. Morgan, Morgan Stanley, SunTrust Robinson Humphrey, William Blair and Lake Street Capital Markets acting as bookrunners for the offering.
A shelf registration statement on Form S-3 relating to the shares of common stock was filed with, and declared effective by, the Securities and Exchange Commission (the “SEC”). The offering may be made only by means of a prospectus supplement and the accompanying prospectus. A preliminary prospectus supplement and accompanying prospectus have been, and a final prospectus supplement will be, filed with the SEC. You may get these documents for free by visiting the SEC’s website at www.sec.gov. Alternatively, copies may be obtained from:
BofA Securities, Inc.
Attn: Prospectus Department
200 North College Street, 3rd Floor
Charlotte, North Carolina 28255
email: dg.prospectus_requests@bofa.com
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor may there be any sale of any securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Option Care Health
Option Care Health is the nation’s largest independent provider of home and alternate site infusion services. With over 5,000 teammates, including approximately 2,900 clinicians, we work compassionately to elevate standards of care for patients with acute and chronic conditions in all 50 states. Through our clinical leadership, expertise and national scale, Option Care Health is reimagining the infusion care experience for patients, customers and employees.