Hims & Hers Health (HIMS) plans a $300 million private offering of convertible senior notes due June 1, 2032, the company said Monday.

The company expects to grant initial buyers an option to purchase up to an additional $45 million of notes.

Hims & Hers plans to use the net proceeds to preserve financial flexibility while executing on its international expansion strategy, including its proposed acquisition of Eucalyptus, with closing expected in mid-2026, it said.

The company's shares were down 3.8% in premarket activity.