secwatch.observer — SEC 8-K summary
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Issuer:     UPWORK, INC (UPWK)
CIK:        0001627475
Form:       8-K
Filed at:   2023-03-22T23:59:59+00:00
Accession:  0001627475-23-000016
Event type: debt
Sentiment:  positive
Materiality: 0.70
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1627475/000162747523000016/0001627475-23-000016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1627475/000162747523000016/upwork-20230321.htm
  HTML page:      https://secwatch.observer/filing/0001627475-23-000016

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