Option Care Health falls as Madison Dearborn sells 18 mln shares

Option Care Health

04/08/2021 13:40

** Option Care Health  OPCH.O  shares down >4% premarket
after secondary offering prices
    ** Infusion therapy services provider announces 18 mln
shares sold by Madison Dearborn Partners at $20.25 with Goldman
Sachs as sole underwriter  urn:newsml:reuters.com:*:nGNX24LWzk
    ** Offering upsized from 15 mln shares, prices at 4.9%
discount to stock's last sale
    ** Sale cuts PE firm Madison's stake by ~10% to 27.7%
    ** Consistent with June 2021 offering, Madison to allocate
offering proceeds to other equityholders. As a result, Walgreens
Boots Alliance  WBA.O  maintains ~21% indirect financial
interest in OPCH
    ** This is Madison's 4th OPCH selldown in 2021. PE firm sold
15 mln shares in June secondary at $20  urn:newsml:reuters.com:*:nL2N2NR10D
    ** Separately, JP Morgan, Canaccord and Barrington raised
their respective PTs on Weds in wake of OPCH's Q2 and full-yr
forecast beat early Tues  urn:newsml:reuters.com:*:nASA02GGC  urn:newsml:reuters.com:*:nGNXbzHygH

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))