secwatch.observer — SEC 8-K summary
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Issuer:     Opendoor Technologies Inc. (OPEN)
CIK:        0001801169
Form:       8-K
Filed at:   2025-05-19T23:59:59+00:00
Accession:  0001140361-25-019770
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1801169/000114036125019770/0001140361-25-019770-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1801169/000114036125019770/ef20049190_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-25-019770

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