Hims & Hers Health falls on $300 mln convertible bond sale plans

Hims & Hers Health

18/05/2026 13:44

* Telehealth firm Hims & Hers Health HIMS.N shares down 4.4% premarket to $23.95 as it looks to raise capital

** San Francisco, California-based co announces private offering of $300 mln 6-yr convertible bonds

** It intends to use net offering proceeds to support international expansion, including proposed acquisition of Australia's Eucalyptus, as well as scale AI capabilities

** Co expects to enter into capped call transactions, derivative vehicles employed to reduce potential dilution

** With ~231.5 mln shares outstanding, HIMS has $5.8 bln market cap as of Fri

** Its stock fell 14% last Tues after co posted qtrly rev miss and surprise loss, as shift toward branded GLP-1 weight-loss drugs squeezed margins and hurt U.S. sales

** Through Fri, stock down 23% YTD

** 12 of 17 analysts rate the stock "hold", 5 rate "buy"; median PT $25, according to LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))