The 2.25% convertible notes are due 2030

Davis Polk advised the representatives of the several initial purchasers in connection with a Rule 144A offering by Oscar Health, Inc. of $410 million aggregate principal amount of its 2.25% convertible senior subordinated notes due 2030, including the full exercise of the initial purchasers’ option to purchase additional securities. In addition, Davis Polk advised the counterparties to the capped call transactions in connection with the offering.

Oscar Health, Inc. is a leading healthcare technology company built around a full-stack technology platform and offers Individual & Family plans and health technology solutions.

The Davis Polk capital markets team included partner Yasin Keshvargar and counsel Christopher H. Van Buren. The equity derivatives team included partners Mark M. Mendez and Mark J. DiFiore, counsel Justin Michael and Katharine O’Banion and associate Melissa X. Estrada. The tax team included partner Lucy W. Farr and associate Carter Ballentine Allison. Partner David R. Bauer provided intellectual property advice. All members of the Davis Polk team are based in the New York office.

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