---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-338452"
form_type: "8-K"
ticker: "PCOR"
cik: "0001611052"
company_name: "PROCORE TECHNOLOGIES, INC."
filed_at: "2026-08-06T21:20:24+00:00"
generated_at: "2026-08-06T21:22:13.043046+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Procore issues $950M 0% convertible notes due 2031; funds DroneDeploy acquisition and $175M buyback

## Summary
- Issued $950M aggregate principal of 0.00% Convertible Senior Notes due 2031; initial conversion price ~$82.89/share (50% premium over $55.26).
- Net proceeds of ~$926.6M; used $59.1M for capped call transactions and $175M to repurchase 3.17M shares of common stock.
- Remaining proceeds to partially fund acquisition of DroneDeploy, Inc. and for general corporate purposes.
- Capped call transactions entered to reduce potential dilution upon conversion, with cap price initially $110.52/share.

## SEC filing metadata
- accession: 0001193125-26-338452
- form_type: 8-K
- ticker: PCOR
- cik: 0001611052
- company_name: PROCORE TECHNOLOGIES, INC.
- filed_at: 2026-08-06T21:20:24+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1611052/000119312526338452/0001193125-26-338452-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1611052/000119312526338452/d169822d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-338452
- JSON: https://secwatch.observer/filing/0001193125-26-338452.json
- Plain text: https://secwatch.observer/filing/0001193125-26-338452.txt

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