** Shares of Hims & Hers Health HIMS.N down 0.4% to $51.19 before the bell as telehealth firm's capital raise boosted by ~90%

** San Francisco, California-based co late Thurs announced $870 mln 0% 5-yr convertible bond offering, upsized from $450 mln

** Initial conversion price of $70.67 represents 37.5% premium to stock's last close

** Co plans to use net proceeds for general purposes, including accelerating global expansion through organic growth and potential acquisitions

** It intends to use ~$42 mln of net proceeds to pay for capped calls, derivative transactions employed to offset share dilution

** Before the bell Thurs, co appointed Mo Elshenawy, former chief technology officer of General Motors' self-driving vehicle unit Cruise, as its new CTO

** Co has $11.5 bln market cap, per LSEG data

** On Apr 29, HIMS jumped 23% to close at $35.04 after Denmark's Novo Nordisk NOVOb.CO said it would sell its popular weight-loss drug Wegovy through telehealth firms

** Through Thurs, HIMS has nearly doubled over the past month. Stock hit record intraday high of $72.98 on Feb 19

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))