Walgreens Boots Alliance sells 15.5M shares of Option Care Health

Walgreens Boots Alliance today announced the sale of approximately 15.5 million shares held in Option Care Health at a price to the public of $30.75 per share.

Walgreens Boots Alliance has sold 13 million shares of Option Care Health 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 approximately 14% to approximately 6%.

[Read more: Walgreens Boots Alliance reportedly weighing $2B sale of pharmacy automation unit iA]

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

[Read more: Walgreens Boots Alliance takes majority stake in iA]