Hims & Hers prices $350M 0.00% convertible notes due 2032; funds Eucalyptus acquisition & AI

Hims & Hers Health, Inc.

Offering upsized from $300M to $350M; initial purchasers can buy additional $52.5M.
Notes mature June 1, 2032; zero coupon; initial conversion price ~$29.53/share (32.5% premium over $22.29 close).
Net proceeds ~$338.5M; $32M for capped call transactions; remainder for international expansion, including Eucalyptus acquisition, AI, and infrastructure.
Capped call transactions reduce dilution, cap price initially ~$50.15/share.
Settlement expected May 21, 2026; Eucalyptus acquisition expected mid-2026.

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