Walgreens Boots Alliance Sells 11 Million Shares of Option Care Health

Rhea-AI Summary

Walgreens Boots Alliance (WBA) has sold 11 million shares of Option Care Health (OPCH) in a secondary offering, reducing its ownership from 20.5% to 14.4%. The proceeds will primarily be utilized for debt paydown and to support strategic priorities. CEO Rosalind Brewer emphasized the action aligns with the company's strategy and enhances balance sheet flexibility. Walgreens Boots Alliance continues to serve millions through over 13,000 locations worldwide, aiming to improve healthcare access.

Positive

• Proceeds of share sale to be used for debt paydown, enhancing financial stability.
• Reduction in ownership still maintains a significant stake in Option Care Health.

Negative

• Decrease in ownership of Option Care Health may limit influence on future company decisions.

Transaction Highlights

• Walgreens Boots Alliance announces sale of 11.0 million shares held in Option Care Health
• Proceeds to Walgreens Boots Alliance will be used primarily for debt paydown and the continued support of the company’s strategic priorities

DEERFIELD, Ill.--(BUSINESS WIRE)-- Walgreens Boots Alliance, Inc. (Nasdaq: WBA) today announced that it has sold 11.0 million shares of Option Care Health, Inc. (“Option Care Health”) (Nasdaq: OPCH) common stock in an underwritten secondary offering.

After the sale, Walgreens Boots Alliance’s ownership of Option Care Health’s common stock has decreased from approximately 20.5 percent to approximately 14.4 percent.

Walgreens Boots Alliance intends to use the proceeds primarily for debt paydown and the continued support of the company’s strategic priorities.

Chief Executive Officer, Rosalind Brewer, said:

“We continue to focus the Walgreens Boots Alliance portfolio of assets. Today’s action is consistent with our strategic priorities and enhances our balance sheet flexibility while generating a strong return on our Option Care Health investment.”

About Walgreens Boots Alliance

Walgreens Boots Alliance (Nasdaq: WBA) is an integrated healthcare, pharmacy and retail leader serving millions of customers and patients every day, with a 170-year heritage of caring for communities.

A trusted, global innovator in retail pharmacy with approximately 13,000 locations across the U.S., Europe and Latin America, WBA plays a critical role in the healthcare ecosystem. The company is reimagining local healthcare and well-being for all as part of its purpose – to create more joyful lives through better health. Through dispensing medicines, improving access to a wide range of health services, providing high quality health and beauty products and offering anytime, anywhere convenience across its digital platforms, WBA is shaping the future of healthcare.

WBA has more than 315,000 team members and a presence in nine countries through its portfolio of consumer brands: Walgreens, Boots, Duane Reade, the No7 Beauty Company, Benavides in Mexico and Ahumada in Chile. Additionally, WBA has a portfolio of healthcare-focused investments located in several countries, including China and the U.S.

The company is proud of its contributions to healthy communities, a healthy planet, an inclusive workplace and a sustainable marketplace. WBA has been recognized for its commitment to operating sustainably: it is an index component of the Dow Jones Sustainability Indices (DJSI) and was named to the 100 Best Corporate Citizens 2021.

More company information is available at www.walgreensbootsalliance.com.

(WBA-GEN)

View source version on businesswire.com: https://www.businesswire.com/news/home/20220816005925/en/

WBA Media Relations

USA / Jim Cohn, +1 224 813 9057

International, +44 (0)20 7980 8585

WBA Investor Relations

Tiffany Kanaga, +1 847 315 2922

Source: Walgreens Boots Alliance, Inc.

FAQ

What was the recent share sale by Walgreens Boots Alliance?

Walgreens Boots Alliance sold 11 million shares of Option Care Health in a secondary offering.

How much did Walgreens Boots Alliance reduce its ownership in Option Care Health?

Walgreens Boots Alliance's ownership in Option Care Health decreased from approximately 20.5% to 14.4%.

What will Walgreens Boots Alliance do with the proceeds from the share sale?

The proceeds will primarily be used for debt paydown and to support the company's strategic priorities.

Who is the CEO of Walgreens Boots Alliance?

The CEO of Walgreens Boots Alliance is Rosalind Brewer.