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Startup Hims Nears a Deal to Go Public Via Oaktree SPAC

  • Transaction said to value wellness startup around $1.6 billion
  • Could be announced as early as next week if agreement reached
Hims products 

Hims products 

Source: Hims

Silicon Valley telemedicine company Hims Inc., which gained popularity selling erectile dysfunction and hair loss treatments online, is nearing a deal to go public through a merger with blank-check company Oaktree Acquisition Corp., according to people with knowledge of the matter.

The deal, which may be announced as soon as next week, could value Hims at about $1.6 billion, said the people, who asked not to be identified because the details are private. Oaktree is in talks with investors to raise about $75 million to help fund the transaction, the people said.