secwatch.observer — SEC 8-K summary
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Issuer:     PROCORE TECHNOLOGIES, INC. (PCOR)
CIK:        0001611052
Form:       8-K
Filed at:   2026-08-06T21:20:24+00:00
Accession:  0001193125-26-338452
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1611052/000119312526338452/0001193125-26-338452-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1611052/000119312526338452/d169822d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-338452

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