06:56 AM EDT, 09/16/2025 (MT Newswires) -- Oscar Health ( OSCR ) said Tuesday that it priced its private offering of $355 million of 2.25% convertible senior subordinated unsecured notes due Sept. 1, 2030, upsized from $350 million.

The company also granted the initial purchasers of the notes a 13-day option to buy up to an additional $55 million of notes. The issuance and sale of the notes is expected to close on Thursday.

The initial conversion rate is 40.2946 shares of class A common stock per $1,000 of notes, which represents an initial conversion price of about $24.82 per share.

The company said it plans to use the net proceeds for general corporate purposes and to fund the cost of entering certain capped call transactions.

Oscar also gave notice of its intent to terminate the revolving credit facility that forms part of its senior secured credit agreement dated Feb. 21, 2021. The termination is contingent on the closing of the offering, and both are expected to occur simultaneously.