BioScrip (OPCH -1.95%) is to float a 12.5 million-strong offering of its common stock in an underwritten public offering. That amount includes 3.125 million shares being offered by selling stockholders. The price has been set at $12.00 per share. Additionally, the company's underwriters have been granted a 30-day purchase option for up to an additional 1.875 million shares.
BioScrip estimates it will reap proceeds of roughly $106.5 million, and will use the monies for "general corporate purposes." It will not take in any proceeds from the shares offered by the selling stockholders.
Leucadia's Jefferies, Morgan Stanley, and SunTrust's Robinson Humphrey unit are the joint book-running managers of the issue.
