HIMS convertible offering will dilute shareholders and harm future capital raises.
Excess dilution from convertible notes will damage investor confidence and ability to raise capital in future
This can't be good for $hims shareholders even if its for "growth". This much dilution will only drive investors out and make it difficult in future to raise funds. Build a robust, profitable business and do half share, half cash. Even Cohen knows this 😁
| Horizon | Raw move | vs SPY |
|---|---|---|
| 1 day | +2.7% | +1.6% |
| 1 week | +6.3% | +4.0% |
| 1 month | +58.1% | +56.3% |
| 3 months | — | — |
| 6 months | — | — |