Option Care Health announces 13M share offering of common stock for holders

Option Care Health (OPCH) announced that an affiliate of Walgreens Boots Alliance (WBA) has agreed to sell 13M shares of the company’s common stock in an underwritten secondary offering. The company will not receive any proceeds from the offering. Goldman Sachs & Co. 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 $75M 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.