Beauty Health exchanges $413.2M of 1.25% notes due 2026 for $250M of 7.95% secured notes due 2028 plus cash

SkinHealth Systems Inc.

Exchanges ~$413.2M aggregate principal of existing 1.25% convertible notes due 2026 for $250M new 7.95% convertible senior secured notes due 2028.
Issues ~$143.4M in cash including accrued interest to exchanging holders.
New notes secured, guaranteed by material domestic subsidiaries; conversion price ~$2.86 per share (initial rate 349.6503 shares/$1,000).
Expected close on or about May 27, 2025; extends debt maturity by two years.
CEO cites strengthened financial position and flexibility to invest in long-term growth.

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