Here's Why Evolent Health Dropped 10% on Friday
Shares of Evolent Health (NYSE: EVH) closed down 10% on Friday after the healthcare company refinanced some convertible senior notes, which were due to be paid next year.
Refinancing convertible debt is usually a positive for companies as it delays the near-term possiblity of the notes being converted into shares, which would dilute current shareholders. But investors seem to think the deal Evolent negotiated isn't all that great, and the healthcare company didn't take care of all the potential dilution in 2021.
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Source Fool.com
