secwatch.observer — SEC 8-K summary
======================================

Issuer:     Upstart Holdings, Inc. (UPST)
CIK:        0001647639
Form:       8-K
Filed at:   2024-11-15T23:59:59+00:00
Accession:  0001193125-24-259803
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1647639/000119312524259803/0001193125-24-259803-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1647639/000119312524259803/d915028d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-259803

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer