Oscar Health, Inc. announced the pricing of its offering of $355,000,000 aggregate principal amount of 2.25% convertible senior subordinated notes due 2030.
The net proceeds will support general corporate purposes, future expansion opportunities fueled by strategic AI, and enhanced consumer healthcare experiences.
The notes will accrue interest at a rate of 2.25% per annum and mature on September 1, 2030, unless earlier repurchased, redeemed, or converted.
Offering Size
Offering size increased to $355,000,000 from the previously announced $350,000,000.
Use of Proceeds
Net proceeds to support general corporate purposes and future expansion initiatives.
Conversion Details
Initial conversion rate is 40.2946 shares of class A common stock per $1,000 principal amount of notes.
- The offering provides an attractive cost of capital compared to other financing alternatives.
- The funds from the offering will fuel strategic initiatives focused on AI and enhancing consumer healthcare experiences.
The pricing of the convertible notes offering demonstrates investor confidence in Oscar Health's growth potential and strategic initiatives. The use of proceeds for expansion and enhancing consumer experiences positions the company for long-term success.