Benzinga | Oct 1, 2020 09:15PM EDT

Owens & Minor Prices 8.475M Share Offering of Common Stock @$20.50/Share

Owens & Minor, Inc. (NYSE:OMI) (the "Company") today announced that it has priced its underwritten public offering (the "Offering") of 8,475,000 shares of its common stock at a price of $20.50 per share. The Company has granted the underwriters an option to purchase up to 1,271,250 additional shares of common stock. Gross proceeds to the Company from the Offering are expected to be approximately $173.7 million, before deducting underwriting discounts and commissions and Offering expenses and assuming no exercise by the underwriters of their option to purchase additional shares of common stock. The Company expects to use all or substantially all of the net proceeds from the Offering to repay debt and any remaining proceeds for general corporate purposes.

The Offering is expected to close on October 6, 2020, subject to customary closing conditions.

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