Walgreens Boots Alliance Sells 15.5 Million Shares of Option Care Health

Rhea-AI Summary

Walgreens Boots Alliance (WBA) has sold approximately 15.5 million shares of Option Care Health (OPCH), raising funds at $30.75 per share. This includes 13.0 million shares in an underwritten secondary offering and a concurrent repurchase of 2.5 million shares by OPCH. Following the sale, WBA's ownership in OPCH decreased from 14% to 6%. The proceeds will primarily be allocated for debt paydown and to support WBA's strategic initiatives.

Positive

• Successful sale of 15.5 million shares in OPCH at $30.75 per share.
• Proceeds will help with debt paydown, indicating a focus on financial health.

Negative

• WBA's ownership in OPCH decreased significantly from 14% to 6%.

Transaction Highlights

• Walgreens Boots Alliance announces sale of approximately 15.5 million shares held in Option Care Health at a price to the public of $30.75 per share
• 13.0 million shares sold in an underwritten secondary offering along with a concurrent share repurchase by Option Care Health of approximately 2.5 million shares
• 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 13.0 million shares of Option Care Health, Inc. (“Option Care Health”) (Nasdaq: OPCH) common stock in an underwritten secondary offering and, subject to completion of the offering, a concurrent share repurchase by OPCH in the amount of approximately 2.5 million shares.

After the sale, Walgreens Boots Alliance’s ownership of Option Care Health’s common stock has decreased from approximately 14 percent to approximately six percent.

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

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 employs more than 325,000 people and has 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: the company is an index component of the Dow Jones Sustainability Indices (DJSI) and was named to the 100 Best Corporate Citizens 2022.

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

(WBA-GEN)

View source version on businesswire.com: https://www.businesswire.com/news/home/20230301006230/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

FAQ

What did Walgreens Boots Alliance announce regarding Option Care Health on the recent press release?

Walgreens Boots Alliance announced the sale of approximately 15.5 million shares of Option Care Health at $30.75 per share.

How many shares did Walgreens sell in the secondary offering of Option Care Health?

Walgreens sold 13.0 million shares in an underwritten secondary offering.

What will Walgreens do with the proceeds from the Option Care Health share sale?

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

What is Walgreens Boots Alliance's current ownership stake in Option Care Health after the sale?

Walgreens Boots Alliance's ownership in Option Care Health has decreased from approximately 14% to 6%.