Hims & Hers Overall health, Inc. Closes Business Blend and Will Get started Trading on the New York Inventory Exchange

SAN FRANCISCO–(Organization WIRE)–Jan 20, 2021– Hims & Hers Wellness, Inc. (“Hims & Hers”), a multi-specialty telehealth platform that connects customers to licensed healthcare experts, right now introduced that it has accomplished its company combination with Oaktree Acquisition Corp. (NYSE: OAC.U, OAC, OAC WS), a special objective acquisition company sponsored by […]

SAN FRANCISCO–(Organization WIRE)–Jan 20, 2021–

Hims & Hers Wellness, Inc. (“Hims & Hers”), a multi-specialty telehealth platform that connects customers to licensed healthcare experts, right now introduced that it has accomplished its company combination with Oaktree Acquisition Corp. (NYSE: OAC.U, OAC, OAC WS), a special objective acquisition company sponsored by an affiliate of Oaktree Money Administration, L.P. (“Oaktree”). The transaction, which was permitted on January 19, 2021 by Oaktree Acquisition Corp.’s shareholders, uniquely positions Hims & Hers to direct the quickly-increasing telehealth business, with a aim on improving the purchaser encounter from start out to end. Commencing January 21, 2021, Hims & Hers’ shares of Class A typical stock will trade on the New York Stock Trade (“NYSE”) below the image “HIMS” and its warrants will trade on the NYSE under the symbol “HIMS WS.”

“We drove tremendous progress in 2020 towards our mission of turning out to be the front door to the health care system,” said Andrew Dudum, CEO and co-founder of Hims & Hers. “Today’s milestone brings us even closer to making modern-day, reasonably priced care available to much more Us citizens. By supplying a seamless affected individual experience put together with proprietary engineering, we intend to rework many of healthcare’s most vital groups, which include primary treatment and mental well being.”

Hims & Hers will proceed to be led by Dudum as CEO together with its very professional executive staff, which include Spencer Lee as Main Monetary Officer, Melissa Baird as Chief Functions Officer, Dr. Patrick Carroll as Chief Health care Officer, and Soleil Teubner Boughton as Chief Legal Officer. In addition, the Company’s Board of Administrators contains a deep bench of advisors with considerable backgrounds top and nurturing speedy-growing healthcare companies and beloved purchaser brands.

In October, the Firm shared that it experienced seasoned 12 months-more than-12 months Q3 revenue development of 91{23996c8f5258275f450f40d5a867c22ad72c04895f28059581bc525cc6cb4bd0}. Hims & Hers also ended Q3 2020 with an raise in gross margins — to 76{23996c8f5258275f450f40d5a867c22ad72c04895f28059581bc525cc6cb4bd0} — as nicely as advancement in web orders and normal buy price.

As a outcome of the business enterprise mixture, Hims & Hers received proceeds of close to $279.5 million, prior to transaction costs, which incorporates cash proceeds of close to $204.5 million from Oaktree Acquisition Corp.’s have faith in account and $75 million from personal placement (PIPE) investors, such as cash managed by Franklin Templeton and specified Oaktree shoppers. Main existing institutional backers of Hims & Hers contain Founders Fund, Forerunner Ventures, IVP, Redpoint Ventures, Thrive Cash, McKesson Ventures, and Canadian Pension System Expense Board as effectively as Cherubic Ventures, Maverick Ventures, Determine Ventures, 8VC, Atomic, NewView Capital, and SV Angel. In addition, Hims & Hers’ current management and current fairness holders have rolled among 90{23996c8f5258275f450f40d5a867c22ad72c04895f28059581bc525cc6cb4bd0} and 100{23996c8f5258275f450f40d5a867c22ad72c04895f28059581bc525cc6cb4bd0} of their fairness into the put together business.

LionTree Advisors served as direct economical advisor to Hims & Hers. Citi also served as monetary advisor, and Gunderson Dettmer Stough Villeneuve Franklin & Hachigian LLP served as authorized counsel. Credit rating Suisse and Deutsche Bank Securities served as funds markets advisors and private placement brokers to Oaktree Acquisition Corp. Deutsche Bank Securities acted as monetary advisor to Oaktree Acquisition Corp. Kirkland & Ellis LLP served as authorized counsel to Oaktree Acquisition Corp.

About Hims & Hers

Hims & Hers is a multi-specialty telehealth system that connects buyers to licensed health care industry experts, enabling them to accessibility higher-excellent health care care for quite a few ailments connected to psychological wellness, sexual wellness, dermatology, major treatment, and a lot more. Launched in November 2017, the corporation also offers thoughtfully made and curated wellness and wellness merchandise. With merchandise and companies obtainable across all 50 states and Washington, D.C., Hims & Hers is capable to offer all People obtain to quality, easy and inexpensive treatment. Hims & Hers was launched by CEO Andrew Dudum, Hilary Coles, Jack Abraham and Joe Spector at enterprise studio Atomic in San Francisco, California. For additional facts about Hims & Hers, remember to stop by forhims.com and forhers.com.

Ahead-Wanting Statements

Selected statements in this push launch may perhaps be regarded as forward-wanting statements. Forward-hunting statements frequently relate to foreseeable future events or Hims & Hers’ long run financial or operating functionality. For instance, statements about the advantages of the proposed company blend, the competitive setting, and the expected long term overall performance, growth and market chances of Hims & Hers are ahead-seeking statements. In some cases, you can detect forward-seeking statements by terminology this sort of as “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these phrases or variants of them or related terminology. This kind of ahead-looking statements are subject matter to threats, uncertainties, and other variables that could trigger real results to differ materially from those people expressed or implied by this sort of forward-on the lookout statements. These ahead-seeking statements are primarily based on estimates and assumptions that, although considered fair by Hims & Hers and its management, are inherently unsure. Things that may perhaps lead to genuine success to differ materially from latest expectations contain, but are not restricted to: the ability to recognize the expected rewards of the proposed business enterprise mix, which may be affected by, among the other things, opposition, the potential of Hims & Hers to increase and take care of expansion profitably, keep associations with buyers and suppliers and retain its management and key staff members costs connected to the proposed organization mixture modifications in relevant regulations or polices the likelihood that Hims & Hers may be adversely affected by other economic, organization, and/or aggressive elements the limited working historical past of Hims & Hers the Hims & Hers small business is subject matter to major governmental regulation the Hims & Hers business may perhaps not productively develop into other marketplaces, together with womens’ overall health and the possible adverse consequences of the ongoing COVID-19 pandemic. Practically nothing in this push release really should be regarded as a representation by any particular person that the forward-seeking statements established forth herein will be attained or that any of the contemplated final results of this sort of forward-seeking statements will be reached. You should really not place undue reliance on forward-hunting statements, which converse only as of the day they are designed. Hims & Hers does not undertake any duty to update these ahead-looking statements.

Look at source edition on businesswire.com:https://www.businesswire.com/information/household/20210120005674/en/

Make contact with: Trader RelationsHims & Hers

Bob East or Jordan Kohnstam

Westwicke, an ICR firm

[email protected]

(443) 213-0500Oaktree Acquisition Corp.

[email protected] RelationsHims & Hers

[email protected] Leous

Westwicke, an ICR business

[email protected]

(646) 866-4012Oaktree Acquisition Corp.

[email protected]

Key phrase: UNITED STATES NORTH The usa CALIFORNIA

Business Search term: Follow Administration MANAGED Treatment Well being Mental Wellness Know-how Health & Nourishment OTHER Know-how OTHER Overall health

Supply: Hims & Hers Health, Inc.

Copyright Business Wire 2021.

PUB: 01/20/2021 04:01 PM/DISC: 01/20/2021 04:01 PM

http://www.businesswire.com/news/home/20210120005674/en

Rachel C. Carpenter

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