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.