Hims & Hers Health, Inc. announced the pricing of an upsized private offering of $350 million in 0.00% convertible senior notes due 2032. The offering was increased from the previously announced $300 million. Net proceeds will be used to support strategic growth, including international expansion, the proposed acquisition of Eucalyptus, and investments in AI and technology infrastructure.
Key Details
- Offering Size: $350 million aggregate principal amount of 0.00% convertible senior notes, with an option for purchasers to buy an additional $52.5 million.
- Use of Proceeds: To fund international expansion (including the proposed acquisition of Eucalyptus expected to close in mid-2026), invest in technology and AI, and for general corporate purposes.
- Note Terms: The notes mature on June 1, 2032. The initial conversion price is approximately $29.53 per share, representing a 32.5% premium over the stock's closing price on May 18, 2026.
- Timeline & Proceeds: The offering is expected to settle on May 21, 2026, with estimated net proceeds of approximately $338.5 million.