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Hims & Hers to Become Publicly-Traded via Merger with OAK

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Hims & Hers, a Multi-Specialty Telehealth Platform, to Become Publicly-Traded via Merger with Oaktree Acquisition Corp.

Combined company to have an implied initial enterprise value of approximately $1.6 billion, with the company expected to have an estimated $330 million in cash after closing

Top-tier investors, including Franklin Templeton and clients of Oaktree, anchoring a $75 million PIPE

Leading existing institutional backers of Hims & Hers, including Founders Fund, Forerunner Ventures, IVP, Redpoint Ventures, Thrive Capital, McKesson Ventures, and the Canadian Pension Plan Investment Board intend to roll 100% of their equity

The enterprise value equals 8.9x estimated 2021 revenue and 12.2x estimated 2021 gross profit, an attractive valuation relative to telehealth peers despite the Company’s leading growth and margin profile.

The transaction is expected to close in the fourth quarter of 2020.

finance.yahoo.com/news/hims-hers-multi-specialty-telehealth-120000700.html

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