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Stock Alert: Owens & Minor Shares Hit 52-Week High

Shares of Owens & Minor Inc. (OMI) reached a 52-week high of $25.95 Friday morning, and are currently trading at $23.94, up $1.38 or 6.12% in the regular session. Trading volume is rising over 3.48 million versus an average volume of 3.10 million shares.

Owens & Minor announced that it has priced its underwritten public offering of 8.47 million 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 1.27 million of additional common shares. Gross proceeds to the company from the Offering are expected to be about $173.7 million, and are expected to be used to repay debt and any remaining proceeds for general corporate purposes.

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