Lincare sells debt, buys common stock
CLEARWATER, Fla. –Â Lincare recently completed the sale of $550 million in Series A and Series B convertible senior debt due in 2037. The provider used a portion of the net proceeds from the sale to buy about 4.5 million shares of its common stock worth about $150 million. It may use additional proceeds for further stock repurchases. Additionally, Lincare plans to use proceeds from the sale to fund selective business acquisitions and for general corporate purposes. In other Lincare news, CFO Paul Gabos exercised options for 200,000 shares the week of Nov. 26 for $17.81 each and sold them the same week for $34.42 and $35.30 each.