Evolent Health slides on $350 mln convertible notes offering

Evolent Health

05/12/2023 15:18

** Evolent Health's  EVH.N  stock down 12.3% at $25.74 early
Tues as it plans capital raise
    ** EVH on track for biggest daily pct decline since Jun 2020
    ** Healthcare tech firm announces private offering of $350
mln 6-yr convertible notes
    ** Co says intends to use net proceeds to pay down senior
term loan facility, which matures in Jan 2029
    ** With stock's move on Tues, co has about $2.9 bln market
value
    ** YTD, shares now down ~8% and 30% off intra-day record
high of $36.70 hit on May 1

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))