Hims & Hers Announces Merger with Oaktree Acquisition Corporation to Become Public Company
Gunderson Dettmer client Hims & Hers, a market leading telehealth company, announced its merger with Oaktree Acquisition Corporation, a special purpose acquisition company (SPAC). The business combination values the combined company at an enterprise value of approximately $1.6 billion.
In the announcement of the transaction CEO and founder of Hims & Hers Andrew Dudum said, “We’re thrilled to partner with Oaktree Acquisition Corp. to usher Hims & Hers into our next phase of growth as we work to become the front door to the healthcare system, serving as the first stop for peoples’ health and wellness needs across hundreds of conditions. Hims & Hers was founded to make it easier and more affordable for everyone to get the healthcare they need. We remain committed to advancing that goal as we expand into new categories of care and build an enduring healthcare company that brings choice, affordability and access to consumers.”
As of January 21, 2021, Hims is listed on NYSE under the symbol HIMS.
The Gunderson deal team was headed by corporate partner Trevor Knapp, with IPO/public companies chair Jeff Vetter and associate Colin Conklin leading on the public markets elements of the transaction, and partner John Olson and associate David Moore guiding the M&A aspects of the deal. Also contributing to the transaction were tax partner Mark Foster, technology transactions partner Gina Marek, executive compensation counsel Jeff Goldman and associates Lily Kim, Albert Yeh, Geoffrey Wright, Ben Hinshaw, Laura Tong, Tina Xu, Jenna Finegold, Samantha Bronner and David Behrend.