DENVER, June 22, 2016 (GLOBE NEWSWIRE) -- BioScrip, Inc. (NASDAQ:BIOS) announced today that it has completed its previously announced underwritten public offering of 45,200,000 shares of its common stock, including 5,200,000 shares of common stock issued upon full exercise of the underwriters’ over-allotment option, at a public offering price of $2.00 per share. The Offering resulted in net proceeds of approximately $83.15 million, after deducting underwriting discounts and commissions and offering expenses. Jefferies LLC acted as the lead joint book-running manager, SunTrust Robinson Humphrey, Inc. acted as a passive book-running manager and Craig-Hallum Capital Group LLC acted as a co-manager.
The Company intends to use the net proceeds from the Offering in the following order of priority: (i) to fund the cash portion of the previously announced proposed acquisition of substantially all the assets of HS Infusion Holdings, Inc. (the “Transaction”) and pay fees and expenses in connection with the Transaction, (ii) to repay a portion of our outstanding borrowings under its revolving credit facility and (iii) for general corporate purposes. If the Transaction is not completed, we intend to use any net proceeds from the Offering (i) to repay a portion of our outstanding borrowings under our revolving credit facility and (ii) for general corporate purposes.
The Offering is being made pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission (the “SEC”). A preliminary and final prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC's website at http://www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus relating to the Offering may also be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 12th Floor, New York, New York, 10022, Telephone: 877-547-6340, Email: Prospectus_Department@Jefferies.com.
About BioScrip, Inc.
BioScrip, Inc. is a leading national provider of infusion and home care management solutions. BioScrip partners with physicians, hospital systems, skilled nursing facilities, healthcare payors, and pharmaceutical manufacturers to provide patients access to post-acute care services. BioScrip operates with a commitment to bring customer-focused pharmacy and related healthcare infusion therapy services into the home or alternate-site setting. By collaborating with the full spectrum of healthcare professionals and the patient, BioScrip provides cost-effective care that is driven by clinical excellence, customer service, and values that promote positive outcomes and an enhanced quality of life for those it serves.
