Option Care Health Enters Material Definitive Agreement
Ticker: OPCH · Form: 8-K · Filed: May 10, 2024 · CIK: 1014739
Sentiment: neutral
Topics: material-definitive-agreement, financial-obligation
TL;DR
Option Care Health just signed a big deal, likely involving debt or a new financial obligation.
AI Summary
On May 8, 2024, Option Care Health, Inc. entered into a material definitive agreement related to a direct financial obligation. The company, formerly known as BioScrip, Inc. and MIM Corp, is incorporated in Delaware and headquartered in Bannockburn, IL.
Why It Matters
This filing indicates a significant financial commitment or obligation for Option Care Health, Inc., which could impact its financial standing and future operations.
Risk Assessment
Risk Level: medium — Entering into new financial obligations can introduce financial risk, depending on the terms and the company's ability to manage them.
Key Players & Entities
- Option Care Health, Inc. (company) — Registrant
- May 8, 2024 (date) — Date of earliest event reported
- BioScrip, Inc. (company) — Former company name
- MIM CORP (company) — Former company name
- Bannockburn, IL (location) — Company headquarters
FAQ
What is the nature of the material definitive agreement entered into by Option Care Health, Inc. on May 8, 2024?
The filing indicates the entry into a material definitive agreement and a direct financial obligation or an obligation under an off-balance sheet arrangement, but the specific details of the agreement are not provided in this summary.
What was Option Care Health, Inc. previously known as?
Option Care Health, Inc. was formerly known as BioScrip, Inc. and MIM CORP.
Where is Option Care Health, Inc. headquartered?
Option Care Health, Inc. is headquartered in Bannockburn, IL.
What is the SEC file number for Option Care Health, Inc.?
The SEC file number for Option Care Health, Inc. is 001-11993.
What is the SIC code for Option Care Health, Inc.?
The Standard Industrial Classification (SIC) code for Option Care Health, Inc. is 8082, which corresponds to SERVICES-HOME HEALTH CARE SERVICES.
Filing Stats: 785 words · 3 min read · ~3 pages · Grade level 11.5 · Accepted 2024-05-10 16:07:53
Key Financial Figures
- $0.0001 — nge on which registered Common Stock, $0.0001 par value per share OPCH Nasdaq Glo
- $50,000,000 — ns in the aggregate principal amount of $50,000,000, which bear interest at the same intere
Filing Documents
- tm2413986d1_8k.htm (8-K) — 28KB
- tm2413986d1_ex10-1.htm (EX-10.1) — 1688KB
- tm2413986d1_8kimg001.jpg (GRAPHIC) — 10KB
- 0001104659-24-059895.txt ( ) — 2284KB
- opch-20240508.xsd (EX-101.SCH) — 3KB
- opch-20240508_lab.xml (EX-101.LAB) — 33KB
- opch-20240508_pre.xml (EX-101.PRE) — 22KB
- tm2413986d1_8k_htm.xml (XML) — 3KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement On May 8, 2024, Option Care Health Inc. (the " Company ") entered into that certain Third Amendment to Amended and Restated First Lien Credit Agreement (the " Amendment "), by and among the Company, as borrower, certain subsidiaries of the Company party thereto, each Existing Term Lender party thereto, the Replacement Lender, the 2024 Incremental Term Lender and Bank of America, N.A., as administrative agent (the " Agent "), which amends that certain Amended and Restated First Lien Credit Agreement, dated as of October 27, 2021 (as amended by that certain First Amendment to Amended and Restated First Lien Credit Agreement, dated as of June 8, 2023, that certain Second Amendment to Amended and Restated First Lien Credit Agreement, dated as of December 7, 2023, and the Amendment, the " Credit Agreement "), by and among the Company, as borrower, certain subsidiaries of the Company from time to time party thereto, the Lenders from time to time party thereto and the Agent. The Amendment, among other things, (i) reduces the interest rate on the Term B Loans thereunder from Term SOFR (including a credit spread adjustment) plus 2.75% to Term SOFR plus 2.25% and removes the credit spread adjustment with respect to such Term B Loans, and (ii) provides for incurrence of incremental term loans in the aggregate principal amount of $50,000,000, which bear interest at the same interest rate as provided in the foregoing clause (i). The foregoing description of the Amendment is not complete and is qualified in its entirety by reference to the full text of the Amendment, which is attached to this Current Report on Form 8-K as Exhibit 10.1, and is incorporated herein by reference. C apitalized terms used in this Item 1.01 but not defined herein have the meaning assigned to such terms in the Amendment or the Credit Agreement, as applicable.
03 Creation of a Direct Financial Obligation or an Obligation
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in Item 1.01 above is incorporated into this Item 2.03 by reference.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits. Exhibit Number Exhibit Description 10.1 Third Amendment to Amended and Restated First Lien Credit Agreement, dated as of May 8, 2024, by and among Option Care Health, Inc. (f/k/a BioScrip, Inc.), a Delaware corporation, as borrower, each other Loan Party (as defined in therein) party thereto, each Existing Term Lender (as defined therein) party thereto, the Replacement Lender (as defined therein), the 2024 Incremental Term Lender (as defined therein) and Bank of America, N.A., as administrative agent. 104 Cover Page Interactive Data File (embedded within the inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Option Care Health, Inc. Date: May 10, 2024 By: /s/ Michael Shapiro Michael Shapiro Chief Financial Officer