Madison Dearborn To Reduce Stake In Option Care Health

  •  Madison Dearborn Partners will sell 15 million common shares of Option Care Health Inc (NASDAQ: OPCH) at $18.50 per share in an underwritten public offering. OPCH will not receive any proceeds from the offering. The current offering is increased from the previously announced 10 million shares.
  • The underwriter has an option to purchase up to 2.250 million. The offering is expected to close on February 10. This sale represents approximately 8.3% of the current shares outstanding (or 9.6% assuming full exercise of the underwriter's option to purchase additional shares). 
  • Upon completing this offering, Madison's interest in the Company will be reduced to 55.2%, from the current 63.6%.
  • Goldman Sachs & Co. LLC is acting as the sole underwriter for the offering.
  • Price Action: OPCH shares are down 3.8% at $19.19 during market hours on the last check Tuesday.
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