India, May 18 -- Hims & Hers Health, Inc. (HIMS) shares fell 8.06 percent to $23.03, down $2.02 on Monday, after the telehealth company announced plans to offer $300 million of convertible senior notes due 2032 in a private placement to qualified institutional buyers.
The stock is currently trading at $23.03, compared with a previous close of $25.05 on the New York Stock Exchange. It opened at $23.98 and traded between $22.73 and $23.98 during the session, with volume reaching 10.66 million shares, below the average daily volume of 36.45 million shares.
The company also expects to grant initial purchasers an option to buy up to an additional $45 million of notes. Hims & Hers said it plans to use the proceeds to maintain financial flexibil...