---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-280148"
form_type: "8-K"
ticker: "U"
cik: "0001810806"
company_name: "Unity Software Inc."
filed_at: "2022-11-08T23:59:59+00:00"
generated_at: "2026-06-22T04:20:46.720707+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Unity issues $1B of 2% convertible notes due 2027; proceeds for $2.5B share repurchase

## Summary
- $1B of 2.0% convertible notes due Nov 2027; conversion price $48.89/share (20.4526 shares/$1k).
- Silver Lake entities purchase $940M, Sequoia purchases $60M of the notes.
- Proceeds to partially fund up to $2.5B share repurchase in open market.
- Notes are unsecured, unsubordinated, rank equally with existing and future unsecured debt.

## SEC filing metadata
- accession: 0001193125-22-280148
- form_type: 8-K
- ticker: U
- cik: 0001810806
- company_name: Unity Software Inc.
- filed_at: 2022-11-08T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1810806/000119312522280148/0001193125-22-280148-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1810806/000119312522280148/d418547d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-280148
- JSON: https://secwatch.observer/filing/0001193125-22-280148.json
- Plain text: https://secwatch.observer/filing/0001193125-22-280148.txt

## Key facts
- Debt Financings
  Unity Software Inc. incurred convertible notes of $1,000,000,000 in aggregate principal amount with Silver Lake Alpine II, L.P., Silver Lake Partners VI, L.P., Sequoia Capital Fund, L.P., SLP VI Union Holdings, L.P., SLP VI Union Holdings II, L.P., SLA Union Holdings, L.P. at 2.0% per annum maturing November 15, 2027.
  - Instrument: convertible notes
  - Principal: $1,000,000,000 in aggregate principal amount
  - Counterparty: Silver Lake Alpine II, L.P., Silver Lake Partners VI, L.P., Sequoia Capital Fund, L.P., SLP VI Union Holdings, L.P., SLP VI Union Holdings II, L.P., SLA Union Holdings, L.P.
  - Rate: 2.0% per annum
  - Maturity: November 15, 2027
  - Event: incurrence
  source text: Fund, L.P. (the “ Sequoia Purchaser ” and, together with the Initial SL Signatories, the “ Initial Signatories ”) relating to the issuance and sale to the Initial Signatories of $1,000,000,000 in aggregate principal amount of Unity’s 2.0% Convertible Senior Notes due 2027 (the “ Notes ”). On November 8, 2022, SLP VI Union Holdings, L.P., SLP VI Union Holdings II, L.P.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1810806/000119312522280148/0001193125-22-280148-index.htm
- Material Agreements
  Unity Software Inc. entered into Investment Agreement with Silver Lake Alpine II, L.P., Silver Lake Partners VI, L.P., Sequoia Capital Fund, L.P. valued at $1,000,000,000 aggregate principal amount of 2.0% Convertible Senior Notes due 2027 (effective 2022-07-13).
  - Action: entry
  - Agreement: underwriting
  - Counterparty: Silver Lake Alpine II, L.P., Silver Lake Partners VI, L.P., Sequoia Capital Fund, L.P.
  - Value: $1,000,000,000 aggregate principal amount of 2.0% Convertible Senior Notes due 2027
  - Effective: 2022-07-13
  source text: As previously disclosed, on July 13, 2022, Unity Software Inc., a Delaware Corporation (“ Unity ”) entered into an investment agreement (the “ Investment Agreement ”) with Silver Lake Alpine II, L.P. and Silver Lake Partners VI, L.P. (together, the “ Initial SL Signatories ”) and Sequoia Capital Fund, L.P. (the “ Sequoia Purchaser ” and, together with the Initial SL Signatories, the “ Initial Signatories ”) relating to the issuance and sale to the Initial Signatories of $1,000,000,000 in aggregate principal amount of Unity’s 2.0% Convertible Senior Notes due 2027 (the “ Notes ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1810806/000119312522280148/0001193125-22-280148-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.