Hims & Hers Health established a $400 million Master Receivables Purchase Agreement with JPMorgan Chase Bank, enabling the sale of eligible receivables for cash subject to a purchase discount and purchaser discretion. The facility has an initial 364-day term with potential one-year extensions, and the company issued a performance undertaking for seller obligations. To support the program, Hims & Hers executed Amendment No. 4 to its Revolving Credit and Guaranty Agreement, adding a $400 million permitted indebtedness basket and updating lien and collateral provisions without changing interest, fees, or core covenants. The moves are designed to enhance liquidity and align the revolver with the new receivables platform.
Agreement 1: Hims & Hers Launches $400 Million Receivables Purchase Facility With JPMorgan
- Agreement type: Master receivables purchase agreement
- Counterparty: JPMorgan Chase Bank
- Signed / Effective: Jul 01 2026 / same
- Duration / Termination: 364 days, extendable in one-year increments
- Reason: Monetize receivables and boost liquidity flexibility
Agreement 2: Hims & Hers Amends Revolver to Permit Receivables Program, Adds $400 Million Basket
- Agreement type: Amendment to revolving credit and guaranty agreement
- Counterparty: JPMorgan Chase Bank and existing lenders
- Signed / Effective: Jun 26 2026 / same
- Duration / Termination: Remainder of existing facility term
- Reason: Enable RPA and align covenants and liens
Original SEC Filing:
This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.