DEERFIELD, Ill. — Walgreens Boots Alliance (WBA) announced Wednesday that it has sold 11.0 million shares of Option Care Health common stock in an underwritten secondary offering.

Roz Brewer

After the sale, Walgreens Boots Alliance’s ownership of Option Care Health’s common stock has decreased from approximately 20.5% to approximately 14.4%.

Walgreens Boots Alliance intends to use the proceeds primarily for debt paydown and the continued support of the company’s strategic priorities.

“We continue to focus the Walgreens Boots Alliance portfolio of assets. Today’s action is consistent with our strategic priorities and enhances our balance sheet flexibility while generating a strong return on our Option Care Health investment,” said chief executive officer, Roz Brewer.