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Home » Owens & Minor commences $172.5M public offering

Owens & Minor commences $172.5M public offering

September 30, 2020 By Sean Whooley

Owens-MinorOwens & Minor (NYSE:OMI) announced that it commenced an underwritten public offering worth up to $172.5 million.

Richmond, Va.-based Owens & Minor is offering $150 million in shares of its common stock and it intends to grant the underwriters an option to purchase up to an additional $22.5 million in common stock shares, according to a news release.

The company expects to use all or substantially all of the net proceeds collected from the offering to repay debt, with any remaining proceeds earmarked for general corporate purposes. Owens & Minor did not offer an expected date for the closing of the offering.

Citigroup, BofA Securities and J.P. Morgan Securities LLC are acting as joint book-running managers in the offering. Baird is also acting as a joint book-running manager.

Filed Under: Business/Financial News, Funding Roundup Tagged With: Owens and Minor

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About Sean Whooley

Sean Whooley is an associate editor who mainly produces work for MassDevice, Medical Design & Outsourcing and Drug Delivery Business News. He received a bachelor's degree in multiplatform journalism from the University of Maryland, College Park. You can connect with him on LinkedIn or email him at [email protected].

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