Option Care greenshoe exercised, raising convertibles to $86.25 million

Pittsburgh, Nov. 12 - Option Care Inc. said the underwriters of its recent offering of 2.25% convertible senior notes due 2024 exercised the $11.25 million over-allotment option in full, raising the size of the deal to $86.25 million.

Buffalo Grove, Ill.-based Option Care originally priced $75 million of the securities on Oct. 27 to yield 2.25% with a 35% initial conversion premium.

UBS Investment Bank was the bookrunner on the Rule 144A deal.

Option Care intends to use proceeds for acquisitions, share repurchases, working capital and other general corporate purposes.

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