Oscar Health prices $355M 2.25% convertible notes due 2030; uses proceeds for growth and AI

Oscar Health, Inc.

Upsized offering of $355M (from $350M); 2.25% interest, due September 1, 2030.
Net proceeds ~$342.5M (or ~$395.8M if initial purchasers exercise $55M option).
Initial conversion price $24.82/share, a 32.5% premium to $18.73 closing price.
Capped call transactions with cap at $37.46/share (100% premium) to reduce dilution.
Will terminate revolving credit facility contingent on closing of the offering.

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