04:30 PM EDT, 08/18/2025 (MT Newswires) -- Evolent Health ( EVH ) said Monday it plans to offer $140 million of convertible senior notes due 2031.

Initial purchasers in the planned offering will have the option to buy up to an additional $20 million of notes.

Evolent said it intends to use up to $100 million of the proceeds to repurchase part of its 1.5% convertible senior notes due 2025 and about $40 million to repurchase shares of its class A common stock.

Any remaining funds, including from additional notes if the option is exercised, will go toward repurchasing or repaying more 2025 notes, the company said.

The company's shares were down 4.7% in after-hours activity.