** Shares of Evolent Health EVH.N down 4.7% post-market to $8.60 as healthcare tech firm looks to raise capital
** Arlington, Virginia-based EVH announces private offering of $140 mln convertible bonds (CBs) due 2031
** It plans to use $100 mln of net proceeds to repurchase a portion of its 1.50% CBs due 2025
** Co also intends to use $40 mln to repurchase its stock concurrently with pricing of the offering in privately negotiated transactions
** With ~117.5 mln shares outstanding, EVH has roughly $1.1 bln market cap, per LSEG data
** EVH shares on Mon closed down 3% at $9.02, down ~20% YTD
** Of 14 analysts covering EVH, recommendation breakdown is 13 "strong buy" or "buy" and 1 "hold"; median PT is $16 - LSEG
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))