{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-180825","form_type":"8-K","ticker":"UPST","cik":"0001647639","company_name":"Upstart Holdings, Inc.","filed_at":"2025-08-14T23:59:59+00:00","discovered_at":"2026-05-14T18:02:44.557405+00:00","generated_at":"2026-05-17T13:14:59.738488+00:00","sec_items":["1.01","1.02","2.03","3.02","8.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Upstart issues $690M 0% convertible notes due 2032, repurchases $232.6M of 2026 notes","bullets":["Issued $690M aggregate principal of 0% Convertible Senior Notes due 2032; initial conversion price ~$82.50 per share.","Net proceeds ~$675.5M; $55.2M used for capped call transactions covering ~8.4M shares with cap price $126.92.","Used ~$224.4M to repurchase ~$232.6M of outstanding 0.25% Convertible Senior Notes due 2026.","Capped call expected to reduce dilution upon conversion; potential dilution beyond cap price.","Notes mature Feb 15, 2032, are senior unsecured, and redeemable after Aug 20, 2028 if stock price condition met."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-180825","json":"https://secwatch.observer/filing/0001193125-25-180825.json","markdown":"https://secwatch.observer/filing/0001193125-25-180825.md","text":"https://secwatch.observer/filing/0001193125-25-180825.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1647639/000119312525180825/0001193125-25-180825-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1647639/000119312525180825/d16038d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T13:14:59.738488+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"8c484c4cc78f160a29abcee98af238b0e16ecdab","claim":"Upstart Holdings, Inc. incurred convertible notes of $690.0 million with U.S. Bank Trust Company, National Association at 0% maturing February 15, 2032.","evidence_excerpt":"issued $690.0 million in aggregate principal amount of its 0% Convertible Senior Notes due 2032 (the “Notes”) pursuant to an indenture (the “Indenture”), dated August 14, 2025, between the Company and U.S. Bank Trust Company, National Association, as trustee.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1647639/000119312525180825/0001193125-25-180825-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$690.0 million"},{"label":"Counterparty","value":"U.S. Bank Trust Company, National Association"},{"label":"Rate","value":"0%"},{"label":"Maturity","value":"February 15, 2032"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}