Hims & Hers Health

Hims & Hers Health, Inc. Announces Response to Recent SEC Guidance Applicable to Warrants Issued by Special Purpose Acquisition Companies (“SPACs”)

Tuesday, May 4, 2021 - 9:57pm

As previously announced, on January 20, 2021, Hims, Inc. and OAC, a SPAC, completed their merger.

Key Points: 
  • As previously announced, on January 20, 2021, Hims, Inc. and OAC, a SPAC, completed their merger.
  • Immediately following the merger, OAC changed its name to Hims & Hers Health, Inc.
  • Consistent with industry practice among SPACs, OAC had been accounting for public warrants and private placement warrants (collectively, the \xe2\x80\x9cwarrants\xe2\x80\x9d) issued in connection with its initial public offering within equity, and recorded the warrants within equity in its consolidated financial statements.
  • Hims & Hers was founded by CEO Andrew Dudum, Hilary Coles, Jack Abraham and Joe Spector at venture studio Atomic in San Francisco, California.