Evolent Health proposes $350M convertible notes due 2029 to pay down term loan

Evolent Health, Inc.

Offering $350M aggregate principal of convertible senior notes due 2029; underwriters may purchase up to $52.5M additional.
Notes convertible into cash, EVH Class A common stock, or a combination at company's election; conversion rate and interest rate set at pricing.
Proceeds plus available liquidity used to prepay outstanding borrowings under its term loan facility (maturing Jan 2029).
Interest on notes payable semiannually starting June 1, 2024; notes mature December 1, 2029 unless earlier repurchased or converted.
Offering exempt from registration under Securities Act, sold only to qualified institutional buyers via Rule 144A.

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