WBA - Option Care Health slips after pricing secondary share offering by WBA
- Option Care Health ( NASDAQ: OPCH ) shares dropped 5% pre-market on Wednesday after the healthcare services firm announced the pricing of a secondary offering of 11M shares of its common stock at $33.25 each.
- Late Tuesday, the company announced that an affiliate of Walgreens Boots Alliance ( NASDAQ: WBA ) had agreed to sell 11M shares of the company. This sale represents ~6% of the current shares outstanding.
- Walgreens Boots ( WBA ) will use proceeds from the offering for debt paydown. The transaction brings WBA's ownership of Option Care ( OPCH ) down to 14.4%.
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Option Care Health slips after pricing secondary share offering by WBA