Loan & DebtMay 19, 2026, 08:26 AM
Hims & Hers Prices Upsized $350M Convertible Senior Notes Offering
AI Summary
Hims & Hers Health, Inc. announced the pricing of an upsized $350 million aggregate principal amount of 0.00% convertible senior notes due 2032 in a private offering. The offering size was increased from the previously announced $300 million. The estimated net proceeds of approximately $338.5 million will be used to preserve financial flexibility for international expansion, including the proposed acquisition of Eucalyptus, and to invest in technology, fulfillment infrastructure, and AI capabilities. The initial conversion price is $29.53 per share, representing a 32.5% premium over the company's Class A common stock closing price on May 18, 2026.
Key Highlights
- Priced upsized offering of $350 million 0.00% Convertible Senior Notes due 2032.
- Offering size increased from previously announced $300 million.
- Estimated net proceeds: $338.5 million, or $389.5 million if initial purchasers fully exercise option.
- Proceeds to fund international expansion, including proposed Eucalyptus acquisition expected mid-2026.
- Proceeds to invest in technology, fulfillment infrastructure, and AI capabilities.
- Initial conversion rate: 33.8590 shares of Class A common stock per $1,000 principal amount of notes.
- Initial conversion price: $29.53 per share, a 32.5% premium over May 18, 2026 closing price of $22.29.
- Approximately $32.0 million of net proceeds to fund capped call transactions.
Price Impact
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