Option Care Health slips after pricing secondary share offering by WBA
Option Care Health (NASDAQ:OPCH) shares droppedÂ 5%Â 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%.