Hims & Hers Health, Inc. priced an upsized $350 million offering of convertible senior notes. The notes reach maturity in 2032. The company increased the deal size from an initial $300 million. Institutional buyers purchased the notes through a private placement.
The company will use the proceeds to fund international expansion and the Eucalyptus acquisition. Funds will also support technology investments to scale AI capabilities. These investments aim to improve the overall customer experience.
The notes feature an initial conversion price of approximately $29.53 per share. This figure represents a 32.5% premium over the closing price. The premium is based on the May 18, 2026, market close. Company shares declined nearly 4% in premarket trading. This drop followed the initial announcement on May 18.