10:08 AM EDT, 05/21/2025 (MT Newswires) -- Beauty Health ( SKIN ) said Wednesday it has signed private agreements to exchange about $413.2 million in 1.25% convertible senior notes due 2026.

The company said it will issue $250 million in new 7.95% convertible senior secured notes due 2028 and pay about $143.4 million in cash, including interest, in exchange for the outstanding 2026 notes.

Investors can convert the new notes into stock at a rate of 349.6503 shares per $1,000 principal amount, or about $2.86 per share, subject to adjustments, it added.

BeautyHealth said it expects to complete the transaction by May 27.

Shares of the company were down about 2.7% in recent Wednesday trading.

Price: 1.62, Change: -0.07, Percent Change: -4.14