Axios, "Hims to go public via SPAC"
Summary
An Axios article dated Oct 1, 2020 reporting that Hims, a San Francisco-based direct-to-consumer provider of men's prescription health care products, agreed to go public via a reverse merger with Oaktree Acquisition Corp. (NYSE: OAC), a SPAC formed by Oaktree Capital Management. The deal gives Hims an initial valuation of $1.6 billion and includes a $75 million concurrent private placement. The article states that Hims has raised nearly $200 million in VC funding since its 2017 founding and quotes Hims CEO Andrew Dudum on choosing a SPAC over a traditional IPO.
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- 2026-10-02
Archived web capture. Preserved source — captured from axios.com; archived 2026-10-02.
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“Axios, ‘Hims to go public via SPAC.’”
Original at www.axios.com. Archived at Pandemic Darlings on 2026-10-02, https://pandemicdarlings.com/source-documents/axios-hims-to-go-public-via-spac-bea8b68e02/
, SHA-256 c5721e836c8d273ee4d7b9cf1309da13280e3fd453079725a8c05f8642d2ff68.Full text
Oct 1, 2020 - Economy Hims to go public via SPAC Illustration: Sarah Grillo/Axios Hims, a San Francisco-based direct-to-consumer provider of men's prescription health care products, agreed to go public via a reverse merger with Oaktree Acquisition Corp. (NYSE: OAC), a SPAC formed by Oaktree Capital Management, at an initial valuation of $1.6 billion. Why it matters: While the pandemic battered many businesses, Hims is within a smaller cohort that the pandemic helped validate, as remote medicine moved mainstream. Details: The deal includes a $75 million concurrent private placement. Hims, which now also offers women's products, has raised nearly $200 million in VC funding since its 2017 founding from firms like Founders Fund, Forerunner Ventures, IVP, CPPIB, Redpoint Ventures, Thrive Capital and McKesson Ventures. The bottom line: "We had always expected and prepped for a traditional IPO, but there are a lot of favorable dynamics in the new group of SPACs. There’s greater speed and certainty of a deal, which helps the team stay focused, and we get to partner with an amazing investor like Howard Marks." — Hims CEO Andrew Dudum Go deeper
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- www.axios.com