Onex Corp. (TSX:OCX) said Wednesday it has sold part of its interest in Emergency Medical Services Corp. (NYSE:EMS) to raise US$151 million.
The private equity firm said the sale was part of a secondary offering of eight million shares of the company at a price of US$48.31 per share by the Onex group which includes Onex Partners and Onex Corp.
The underwriters have an option to purchase up to an additional 1.2 million shares.
The sale is Onex' second offering of EMSC shares following the sale of a partial stake in its investment for $40 per share in August.
The Onex group continues to own approximately 35 per cent of EMSC's equity, of which Onex Corp.'s share is approximately 13 per cent.
Onex Corp. now has over $1 billion in cash and near-cash investments.