DoorDash, Inc. (DASH): debt financing — DoorDash closes upsized $2.75B 0% convertible note offering due 2030

DoorDash, Inc.

Issued $2.75B aggregate principal amount of 0% convertible senior notes due May 15, 2030; upsize includes full exercise of $250M option.
Initial conversion rate 3.4250 shares per $1,000 principal, conversion price ~$291.97; net proceeds ~$2.72B.
Used $338.5M for convertible note hedge transactions (offset by warrant proceeds); remainder for general corporate purposes including acquisitions and share repurchases.
Notes are senior unsecured obligations; coupon 0% with special interest up to 0.50% upon certain events.
Convertible note hedge and warrant transactions reduce potential dilution and offset cash payments upon conversion.

item 1.01 item 2.03 item 3.02 item 8.01 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 0.9

DoorDash, Inc. incurred convertible notes of $2,750,000,000 aggregate principal amount with U.S. Bank Trust Company, National Association at 0% convertible maturing May 15, 2030.

Instrument: convertible notes
Principal: $2,750,000,000 aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 0% convertible
Maturity: May 15, 2030
Event: incurrence

Exact text from the filing

On May 30, 2025, DoorDash, Inc. (the “Company”) issued $2,750,000,000 aggregate principal amount of its 0% convertible senior notes due 2030 (the “Notes”).

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DoorDash, Inc. filing history →

Source: SEC EDGAR

accession 0001140361-25-021020

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