Latham & Watkins Advises on Hims & Hers Health, Inc.’s Upsized US$870 Million Convertible Senior Notes Offering

Hims & Hers Health, Inc. (Hims & Hers or the Company, NYSE: HIMS), a leading health and wellness platform, has priced an offering of US$870 million aggregate principal amount of convertible senior notes due 2030 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. Hims & Hers also granted the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional US$130 million aggregate principal amount of notes. Hims & Hers intends to use proceeds from the offering for general corporate purposes, including accelerating global expansion through both organic growth and strategic acquisitions. Hims & Hers has no definitive agreements for any material acquisitions at this time. The funds will also support the technology team, led by newly appointed CTO Mo Elshenawy, to expand the Company’s data pipeline, develop AI tools, and advance personalized treatments to enhance the consumer healthcare experience. In addition, a portion of the net proceeds will be used to fund the cost of entering into certain capped call transactions. If the initial purchasers exercise their option to purchase additional notes, a portion of the additional proceeds will also be used to fund the cost of entering into the related capped call transactions.

Latham & Watkins LLP represented the initial purchasers in the offering with a capital markets team led by partners Stelios Saffos, Tad Freese, and Brittany Ruiz, with associates Jie Lin Nai and Helen Zhang. Advice was also provided on products matters by associates Ryan Gold, Andrew Bentz, and Steve Hess; capped call matters by partner Catherine Lee and counsel Christopher Yu, with associate Henry Lin; and on tax matters by partners Elena Romanova and Grace Lee.