Upstart issues $500M of 1.00% convertible notes due 2030, net proceeds ~$488M

Upstart Holdings, Inc.

Issued $500M aggregate principal amount (including full exercise of $75M greenshoe) of 1.00% Convertible Senior Notes due 2030.
Initial conversion price approximately $91.99 per share, representing a ~32.5% premium to last sale price of $69.43.
Net proceeds of ~$488.1M after discounts and expenses, to be used for general corporate purposes including debt repayment.
Notes mature Nov 15, 2030; Upstart may redeem after Nov 20, 2027 subject to stock price condition (130% of conversion price).
Notes are senior unsecured, convertible at holder's option under specified conditions; settlement in cash, stock, or combination.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.