Oscar Health Inc (NYSE:OSCR) shares are trading lower Tuesday after the company announced an upsized offering of convertible senior notes.
What To Know: After the market close on Monday, Oscar announced intentions to launch a proposed convertible senior subordinates notes offering. Tuesday morning, the company announced an upsized offering of $355 million.
Oscar Health said it will offer $355 million of its 2.25% convertible senior subordinated notes due 2030 in a private offering to institutional investors. The company also granted the initial purchasers a 13-day option to purchase up to an additional $55 million of the notes.
The issuance and sale of the notes are scheduled to settle on Thursday. Oscar anticipates net proceeds of approximately $342.5 million. The company plans to use the proceeds to support future expansion fueled by strategic initiatives focused on AI, lowering the cost of care and enhancing consumer healthcare experiences.
How To Buy OSCR Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Oscar Health's case, it is in the Financials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
OSCR Price Action: Oscar Health shares were down 5.61% at $17.69 at the time of publication on Tuesday, according to Benzinga Pro.
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