04:53 AM EDT, 05/09/2025 (MT Newswires) -- Hims & Hers Health ( HIMS ) said Thursday it priced $870 million in 0% convertible senior notes due 2030 in a private offering to institutional investors, with closing expected on May 13.

The company said the deal was upsized from $450 million and includes a $130 million option for initial buyers to purchase additional notes within 13 days of issuance.

According to Hims & Hers, approximately $41.6 million of the net $842.7 million proceeds will be used to fund capped call transactions designed to reduce dilution upon conversion.

The remaining proceeds are intended to support general corporate purposes, accelerate global growth via organic expansion and acquisitions, and enhance AI-powered healthcare services, the company said.