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Consumer telehealth and wellness brand Hims & Hers wrapped up its merger with special purpose acquisition company (SPAC) Oaktree Acquisition Tuesday, and today began trading on the New York Stock Exchange.
The deal was first announced in October, and was originally expected to close before the end of its Q4 2020. After Tuesday s approval, the deal has provided Hims with $279.5 million, $205 million of which comes as cash from Oaktree Acquisition Corp., and $75 million from the concurrent private placement of common stock priced at $10 per share. We drove tremendous progress in 2020 toward our mission of becoming the front door to the healthcare system, Andrew Dudum, CEO and cofounder of Hims & Hers, said in a statement. Today s milestone brings us even closer to making modern, affordable care accessible to more Americans. By providing a seamless patient experience combined with proprietary technology, we intend to transform many of healthcare’s most important catego