---
schema_version: "secwatch.filing_event.v1"
accession: "0001627475-23-000016"
form_type: "8-K"
ticker: "UPWK"
cik: "0001627475"
company_name: "UPWORK, INC"
filed_at: "2023-03-22T23:59:59+00:00"
generated_at: "2026-06-17T21:20:00.342865+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Upwork repurchases ~$196.8M of 0.25% Convertible Notes for ~$157M cash

## Summary
- Repurchased approximately $196.8 million aggregate principal amount of its 0.25% Convertible Senior Notes due 2026.
- Estimated cash expenditure of about $157 million, implying a discount to face value.
- Repurchase price based on daily VWAP over March 22-23, 2023 measurement period.
- Expected to close March 27, 2023; after closing, approximately $378.2 million principal remains outstanding.
- Existing capped call transactions remain in effect and unchanged by the repurchases.

## SEC filing metadata
- accession: 0001627475-23-000016
- form_type: 8-K
- ticker: UPWK
- cik: 0001627475
- company_name: UPWORK, INC
- filed_at: 2023-03-22T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1627475/000162747523000016/0001627475-23-000016-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1627475/000162747523000016/upwork-20230321.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001627475-23-000016
- JSON: https://secwatch.observer/filing/0001627475-23-000016.json
- Plain text: https://secwatch.observer/filing/0001627475-23-000016.txt

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