What's Going On With Oscar Health Stock On Tuesday?

Group 1 - Oscar Health Inc. has priced its offering of $355 million of 2.25% convertible senior subordinated notes due 2030, increasing the size from the previously announced $350 million [1] - The estimated net proceeds from the offering will be approximately $342.5 million, or about $395.8 million if the initial purchasers fully exercise their option to purchase additional notes [1][2] - The company plans to use the net proceeds for general corporate purposes, including AI initiatives, lowering care costs, and enhancing consumer healthcare experiences [2] Group 2 - The notes will accrue interest at a rate of 2.25% per annum, payable semi-annually starting March 1, 2026, and maturing on September 1, 2030 [3] - Noteholders can convert their notes only upon certain events before June 1, 2030, and may convert at any time thereafter [4] - The initial conversion rate is 40.2946 shares of class A common stock per $1,000 principal amount of notes, with an initial conversion price of approximately $24.82 per share, representing a premium of about 32.5% over the last reported sale price of $18.73 on September 15 [4] Group 3 - Oscar Health's stock is currently down 5.52% at $17.70 [5]