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Stock Alert: Oaktree Acquisition Hits New 52-week High

Shares of Oaktree Acquisition Corp. (OAC), a special purpose acquisition company, are rising more than 4 percent or $0.79 in Monday's morning trade at $18.00, after hitting a new 52-week high of $18.79.

In October, Hims, Inc. or "Hims & Hers", a telehealth company, and Oaktree Acquisition Corp. said they have entered into a definitive merger agreement. Upon completion of the transaction, the combined company's securities are expected to be traded on the New York Stock Exchange or NYSE under the symbol "HIMS." The business combination values the combined company at an enterprise value of about $1.6 billion.

Last Wednesday, Oaktree Acquisition reminded its shareholders to vote in favor of the approval of the company's proposed business combination with Hims, at the special meeting of shareholders to be held on January 19, 2021.

Oaktree Acquisition has traded in a range of $9.40 to $18.79 in the past 52 weeks.

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