Evolent Health prices $350M convertible notes at 3.5% due 2029 to repay term loan

Evolent Health, Inc.

$350M aggregate principal, 3.5% coupon, semiannual interest, matures Dec 1, 2029.
Initial conversion price ~$38.00/share, a 42.5% premium over Dec 5 closing price.
Underwriters granted a 30-day option to purchase up to an additional $52.5M of notes.
Net proceeds plus available liquidity will prepay outstanding term loan facility.
Notes convertible into cash, shares, or combination at Evolent's election.

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