Opendoor closes $325M convertible notes exchange, extending maturities and adding cash

Opendoor Technologies Inc.

Issued $325M aggregate principal of 7.000% Convertible Senior Notes due 2030.
$245.8M exchanged for existing 0.25% 2026 notes; $79.2M issued for cash, netting ~$75.3M.
Initial conversion price ~$1.57/share, ~80% premium over May 8 closing price of $0.872.
Notes mature May 15, 2030; interest payable semiannually beginning Nov 15, 2025.
Proceeds from cash portion used for general corporate purposes.

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