Lincare greenshoe fully exercised for series A, B convertibles due 2037

By Devika Patel

Knoxville, Tenn., Oct. 31 - Lincare Holdings Inc. announced that the underwriters of its offering of $275 million in series A convertible senior debentures due 2037 and $275 million in series B convertible senior debentures due 2037 fully exercised their $25 million greenshoes on both series of notes, for a total over-allotment of $50 million.

The bonds priced on Oct. 25 with a conversion price of $51.27 and a conversion ratio of 19.5044.

The company plans to use $150 million from the offering to repurchase shares of its common stock. An undisclosed further amount may be used for further stock buybacks. The balance will be used to fund some acquisitions and for general corporate purposes.

Based in Clearwater, Fla., Lincare provides oxygen and other respiratory therapy services to the home health care market.

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