Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities
Owens & Minor, Inc.’s common stock trades on the New York Stock Exchange under the symbol OMI. As of February 13, 2023, there were 2,354 common shareholders of record. Because many of our shares of common stock are held by brokers and other institutions on behalf of stockholders, the common shareholders of record do not reflect the total number of stockholders.
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5-Year Total Shareholder Return
The following performance g raph compares the performance of our common stock to the Standard & Poor's Composite-500 Index (S&P 500 Index), the Russell 3000 Medical Equipment and Services Sector Index, an index that includes more than 100 companies in the medical equipment and services industry, and the Standard & Poor's Composite-500 Healthcare Index (S&P 500 Healthcare Index), an independently prepared index that includes more than 50 companies in the healthcare industry. Beginning this year, we are using the Russell 3000 Medical Equipment and Services Sector Index as our line of business index, but in prior years we used the S&P 500 Healthcare Index. We are changing our line of business index to the Russell 3000 Medical Equipment and Services Sector Index because that index more closely aligns with our business. In accordance with Item 201(e) of Regulation S-K, we are including both the Russell 3000 Medical Equipment and Services Sector Index and S&P 500 Healthcare Index in the performance graph below. This graph assumes that the value of the investment in the common stock an d each index was $100 on December 31, 2017, and that all dividends were reinvested.
Base Period Years Ended
Company Name / Index 12/2017 12/2018 12/2019 12/2020 12/2021 12/2022
Owens & Minor, Inc. $ 100.00 $ 35.49 $ 29.05 $ 152.18 $ 244.79 $ 109.90
S&P 500 Index 100.00 95.62 125.72 148.85 191.58 156.88
Russell 3000 Medical Equipment and Services Sector 100.00 112.27 146.90 185.83 224.41 174.51
S&P 500 Healthcare 100.00 106.47 128.64 145.93 184.07 180.47
In May 2020, we entered into an equity distribution agreement, pursuant to which we may offer and sell, from time to time, shares of our common stock having an ag gregate offering price of up to $50.0 million . We intend to use the net proceeds from the sale of our securities offered by this program for the repayment of indebtedness and/or for general corporate and working capital purposes. As of December 31, 2022, no shares were issued and $50.0 million of common stock remained available under the at-the-market equity financing program.
On October 6, 2020, we completed a follow-on equity offering wherein we sold an aggregate of 8,475,000 shares of our common stock at an offering price of $20.50, resulting in net proceeds to us of approximately $165 million, after deducting expenses relating to the follow-on equity offering, including the underwriters’ discounts and commissions. Pursuant to the underwriting agreement, we granted the underwriters an option to purchase up to an additional 1,271,250 shares of our common stock, which the underwriters exercised in full. Inclusive of this exercised option, net proceeds to us were approximately
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$190 million, after deducting expenses relating to the follow-on equity offering, including the underwriters’ discounts and commissions. We used the proceeds from the follow-on equity offering to repay the remaining $109 million outstanding balance of Term Loan A-1 at par on October 8, 2020, to repay $51.7 million of our Term Loan A-2 at par on October 15, 2020, and to repay $30.0 million of borrowings under the revolving credit facility.
Item 6. [Reserved]