In This Article:
BANNOCKBURN, Ill., March 01, 2023 (GLOBE NEWSWIRE) -- Option Care Health, Inc. (“Option Care Health” or the “Company”) (NASDAQ: OPCH) announced today that an affiliate of Walgreens Boots Alliance, Inc. (the “Selling Stockholder”) has agreed to sell 13,000,000 shares of the Company’s common stock at a price to the public of $30.75 per share in an underwritten secondary offering. The offering is expected to close on March 3, 2023, subject to customary closing conditions. The Company will not receive any proceeds from the offering.
Goldman Sachs & Co. LLC is acting as the sole underwriter for the offering.
In addition, the Company has entered into an agreement to concurrently repurchase a number of shares of common stock from the Selling Stockholder equal to an aggregate purchase price of approximately $75 million at a price per share equal to the price at which the underwriter will purchase the shares from the Selling Stockholder in the offering, net of underwriting discounts and commissions. The concurrent share repurchase will be made under the Company’s share repurchase program and the repurchased shares will be held in treasury. The Company intends to fund the concurrent share repurchase with cash on hand. The closing of the concurrent share repurchase will be conditioned upon the closing of the offering and therefore there can be no assurance that the concurrent share repurchase will be completed. The offering is not conditioned upon the completion of the concurrent share repurchase.
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 free writing prospectus, a prospectus supplement and the accompanying prospectus, which 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:
Goldman Sachs & Co. LLC
Attn: Prospectus Department
200 West Street
New York, New York 10282
Tel: 866.471.2526
Email: Prospectus-ny@ny.email.gs.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 7,500 team members including more than 4,500 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 teammates.