Loan & DebtMay 21, 2026, 05:12 PM
Hims & Hers Issues $402.5M Convertible Senior Notes Due 2032
AI Summary
Hims & Hers Health, Inc. announced the issuance of $402.5 million in aggregate principal amount of 0.00% Convertible Senior Notes due June 1, 2032. These notes are senior, unsecured obligations and do not bear regular interest. Noteholders have the right to convert their notes into cash, Class A common stock, or a combination, at the company's election, with an initial conversion price of approximately $29.53 per share. The company also entered into base and additional call option transactions to hedge potential dilution from the convertible notes.
Key Highlights
- Hims & Hers issued $402.5 million in aggregate principal amount of Convertible Senior Notes.
- The notes mature on June 1, 2032, and do not bear regular interest.
- The initial conversion price is approximately $29.53 per share of Class A common stock.
- The initial conversion rate is 33.8590 shares per $1,000 principal amount of notes.
- The company can redeem the notes from June 6, 2029, under specific stock price conditions.
- Noteholders can require repurchase upon certain 'Fundamental Change' events.
- Hims & Hers entered into related call option transactions on May 18 and May 19, 2026.
Price Impact
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