Opendoor issues $325M of 7% convertible notes due 2030, exchanges $245.8M of 0.25% notes, raises $75.3M cash

Opendoor Technologies Inc.

$325M aggregate principal of 7.000% Convertible Senior Notes due 2030 issued; $245.8M exchanged for existing 0.25% notes due 2026, $79.2M for cash.
Gross cash proceeds ~$75.3M from subscription transactions; net proceeds for general corporate purposes.
Initial conversion price ~$1.57/share, ~80% premium over May 8 closing price of $0.872.
After exchange, ~$135.4M of 2026 notes remain outstanding with terms unchanged.
J. Wood Capital plans to purchase ~16.8M shares of common stock concurrently at a discount; agrees not to sell for 30 days.

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