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Option Care notes convertible due to acquisition by Walgreen
New York, July 24 - Option Care, Inc. said its 2.25% convertible senior notes due 2024 have become convertible because of the planned acquisition of more than 50% of the company's stock by Walgreen Co. subsidiary Bison Acquisition Sub Inc.
The notes will also be convertible as a result of the anticipated second-step cash merger that will follow completion of the tender offer.
The initial tender is scheduled to expire at midnight ET on the night of Aug. 13 and 14.
Holders may convert under the fundamental change provision of the note indenture. If a make-whole fundamental change occurs, a make-whole premium will be payable in cash.
Option Care is a Buffalo Grove, Ill., provider of healthcare services at home.
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