Hims & Hers Health Is Raising Nearly A Billion Dollars To Fuel Expansion

Hims & Hers Health has been dominating the telemedicine opportunity in the United States of America. And now, they’re raising nearly a billion dollars in debt to fuel their expansion plans.

What’s happening:

• Hims & Hers Health (NYSE: HIMS) has officially increased the size of their convertible note financing to $870M USD
  

By the numbers:‍

• Hims & Hers Health initially set out to raise $450M USD in convertible notes prior to upsizing the round
  
• The new convertible note financing has a 0.00% interest rate and will be redeemable for either common shares or cash in the future
  

Why it matters:‍

• This is the largest debt funding round that Hims & Hers Health has ever raised since becoming a publicly traded company
  

Going deeper:‍

• Novo Nordisk (NYSE: NVO) and Hims & Hers Health just recently made waves when they formed a new partnership to expand access to weight loss drugs, including Novo Nordic’s highly popular GLP-1 drug Wegovy
  
• Hims & Hers Health has also been ramping up acquisitions lately, including previously acquiring at home blood testing startup Trybe Labs

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