Evolent Health announces $140M convertible senior notes offering

Evolent Health (EVH) announced that it intends to offer $140M aggregate principal amount of convertible senior notes due 2031, subject to market and other conditions. Evolent intends to use up to $100M of the net proceeds from the offering to repurchase a portion of Evolent’s 1.50% convertible senior notes due 2025 and approximately $40M of the net proceeds of the offering to repurchase shares of its Class A common stock concurrently with the pricing of the offering in privately negotiated transactions. Evolent expects to use the remainder of the net proceeds from the offering, if any, for the repurchase or repayment at maturity of additional 2025 Notes.