Hims & Hers Health Inc (NYSE:HIMS) shares are falling Thursday morning after the company announced a proposed convertible senior notes offering.

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Hims & Hers Health ( HIMS) shares surged 8% Tuesday, a day after the health and wellness platform posted better-than-expected results on soaring sales and subscribers. The company reported first-quarter earnings per share of $0.20, with revenue skyrocketing 111% year-over-year to $586.0 million. Both exceeded Visible Alpha estimates.