Prognosis
Hims Inks $1.6 Billion Deal to Go Public Via Oaktree SPAC
- Pact comes as Covid-19 pandemic drives a surge in telehealth
- Online drug seller plans to use funds to bankroll expansion
Source: Hims
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Telemedicine upstart Hims Inc., best-known as an online seller of treatments for erectile dysfunction and hair loss, said Thursday it plans to go public through a merger with blank-check company Oaktree Acquisition Corp.
The deal will value the three-year-old San Francisco company at approximately $1.6 billion, according to a statement. Oaktree plans to raise about $75 million to help fund the transaction, including through investments from money manager Franklin Templeton and Oaktree clients. Details of the proposed deal were first reported by Bloomberg News last week.