---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-182692"
form_type: "8-K"
ticker: "EVH"
cik: "0001628908"
company_name: "Evolent Health, Inc."
filed_at: "2025-08-18T23:59:59+00:00"
generated_at: "2026-05-17T11:57:13.040489+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Evolent Health Announces $140M Convertible Note Offering and Discloses DOJ Investigation

## Summary
- Evolent Health intends to offer $140.0M aggregate principal amount of convertible senior notes due 2031, with an option for an additional $20.0M.
- The company plans to use up to $100M of net proceeds to repurchase a portion of its 1.50% convertible senior notes due 2025 and about $40M to repurchase shares of its Class A common stock.
- Evolent disclosed it received a Civil Investigative Demand from the DOJ on August 12, 2025, regarding a False Claims Act investigation involving former customer's diagnosis codes since 2016.
- The notes will be convertible into cash, stock, or a combination, subject to conversion rights termination conditions after August 20, 2026.
- The offering is private under Rule 144A, and the securities are not registered under the Securities Act.

## SEC filing metadata
- accession: 0001193125-25-182692
- form_type: 8-K
- ticker: EVH
- cik: 0001628908
- company_name: Evolent Health, Inc.
- filed_at: 2025-08-18T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1628908/000119312525182692/0001193125-25-182692-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1628908/000119312525182692/d24921d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-182692
- JSON: https://secwatch.observer/filing/0001193125-25-182692.json
- Plain text: https://secwatch.observer/filing/0001193125-25-182692.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.