OPCH - Option Care Health under pressure on 10M shares secondary offering

Option Care Health (OPCH) -7.1% AH, announced today that an affiliate of Madison Dearborn Partners agreed to sell 10M shares in an underwritten public offering.Selling stockholder has also granted the underwriter a 30-day option to purchase up to 1.5M.The company will not receive any proceeds from the offering.Assuming exercise of the underwriter's option to purchase additional shares, this sale of shares represents ~6.2% of the current shares outstanding. On offer close, the selling stockholder's interest in the company will be reduced to 64.5% of the outstanding shares, from the current 70.6%.

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Option Care Health under pressure on 10M shares secondary offering