On May 22, Medline Inc rose 3.27% in regular trading, trading at $38.225/share, with trading volume of $333 million.

On the news front, the company announced that its upsized secondary offering of approximately 72.6 million Class A shares on behalf of selling stockholders has been priced at $37 per share, with settlement expected on May 28. The offering was expanded from the originally announced 60 million shares, and the selling stockholders have granted underwriters a 30-day option to purchase up to an additional 10.9 million shares.

The secondary offering was initiated by stockholders affiliated with Blackstone, Hellman & Friedman, and an Abu Dhabi Investment Authority subsidiary. Medline itself will not receive any proceeds from the sale. The stock had previously dropped over 5% on May 20 when the offering was first announced, as the large-scale share sale raised concerns about supply overhang. The definitive pricing at $37 resolved the uncertainty that had weighed on shares, enabling the stock to stabilize and rebound above the offering price.

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