Uber issues $1.5B 0.875% convertible notes; redeems $1B 7.5% senior notes due 2025

Uber Technologies, Inc

Issued $1.5B 0.875% convertible notes due 2028, upsized from $1.2B; conversion price $72.54/share (32.5% premium).
Net proceeds ~$1.7B; $140.6M for capped calls; remainder to redeem $1B 7.5% senior notes due 2025.
Capped call transactions with initial cap price ~$95.81/share (75% premium) to reduce dilution on conversion.
Amended 0% convertible notes due 2025 to eliminate physical settlement, require cash settlement with min $1,000 cash per $1,000 principal.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Uber Technologies, Inc entered into Indenture with U.S. Bank Trust Company, National Association valued at $1.5 billion aggregate principal amount (effective 2023-11-24).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Value: $1.5 billion aggregate principal amount
Effective: 2023-11-24

Exact text from the filing

On November 24, 2023, Uber Technologies, Inc. (the “ Company ”) completed its previously announced private offering of $1.5 billion aggregate principal amount of its 0.875% Convertible Senior Notes due 2028 (the “ Notes ”) to several investment banks acting as initial purchasers (collectively, the “ Initial Purchasers ”), including the exercise in full by the Initial Purchasers of their option to purchase up to an additional $225.0 million aggregate principal amount of the Notes. The Notes were issued pursuant to an indenture, dated November 24, 2023 (the “ Indenture ”), between the Company and U.S. Bank Trust Company, National Association, as trustee.

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Uber Technologies, Inc filing history →

Source: SEC EDGAR

accession 0001552781-23-000469

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