Option Care Health (OPCH) Announces Secondary Offering of 15M Shares of Common Stock

Option Care Health, Inc. (“Option Care Health” or the “Company”) (NASDAQ: OPCH) announced today that an affiliate of Madison Dearborn Partners (the “Selling Stockholder”) has agreed to sell 15,000,000 shares of the Company’s common stock in an underwritten public offering. The Selling Stockholder has also granted the underwriter a 30-day option to purchase up to 2,250,000 additional shares of common stock. The Company will not receive any proceeds from the offering.

This sale of shares represents approximately 8.3% of the current shares outstanding (or9.6% assuming full exercise of the underwriter’s option to purchase additional shares). Upon completion of this offering, the Selling Stockholder’s interest in the Company will be reduced to 29.3% of the outstanding shares (or 28.1% assuming full exercise of the underwriter’s option to purchase additional shares), from the current 37.7%.

Consistent with the June 2021 secondary offering, Madison Dearborn Partners and Walgreen Co., a wholly owned subsidiary of Walgreens Boots Alliance, Inc. (“Walgreens”), have agreed in principle to allocate all of the Selling Stockholder’s offering proceeds to affiliates of Madison Dearborn Partners and other equityholders of the Selling Stockholder. As a result, Walgreens will maintain its approximately 21% indirect financial interest in Option Care Health following this offering.

Goldman Sachs & Co. LLC is acting as the sole underwriter for the offering.

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