Opendoor Technologies Inc. (OPEN): debt financing — 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.

item 1.01 item 2.03 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.99

Opendoor Technologies Inc. incurred convertible notes of $325.0 million aggregate principal amount with U.S. Bank Trust Company, National Association, as trustee at 7.000% per annum maturing May 15, 2030.

Instrument: convertible notes
Principal: $325.0 million aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association, as trustee
Rate: 7.000% per annum
Maturity: May 15, 2030
Event: incurrence

Exact text from the filing

On May 16, 2025, Opendoor Technologies Inc. (the “Company”) consummated (the “Closing”) the previously announced privately negotiated exchange and subscription transactions, pursuant to which it issued $325.0 million aggregate principal amount of its 7.000% Convertible Senior Notes due 2030 (the “Notes”), consisting of (a) approximately $245.8 million principal amount of Notes issued in exchange for approximately $245.8 million principal amount of the Company’s 0.25% Convertible Senior Notes due 2026 (the “2026 Notes”), and (b) approximately $79.2 million principal amount of Notes issued for cash, in each case, pursuant to exemptions from registration under the Securities Act of 1933, as amended (the “Securities Act”), and the rules and regulations thereunder.

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6 debt financings filed in the last 30 days. Browse all debt financings →

Opendoor Technologies Inc. filing history →

Source: SEC EDGAR

accession 0001140361-25-019770

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