Oscar Health slides after launching $350 mln convertible debt deal
** Shares of health insurer Oscar Health OSCR.N down 5.7% to $17.66 post-market as it looks to raise capital
** New York City-based firm announces private offering of $350 mln convertible bonds due 2030
** Co says plans to use net offering proceeds for general purposes, including to support future expansion fueled by strategic initiatives focused on AI, lowering the cost of care, among other uses
** It also intends to use a portion of proceeds to pay cost of capped calls, derivative transactions employed to help offset dilution
** Co has ~$4.8 bln market cap, based on ~258.6 mln shares outstanding
** Stock on Mon closed down 3.1% at $18.73, trimming YTD gain to ~39%
** Of 10 analysts covering OSCR, recommendation breakdown is 2 "strong buy" or "buy", 3 "hold" and 5 "sell" or "strong sell"; median PT is $11, per LSEG data
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