---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-21-015997"
form_type: "8-K"
ticker: "UPWK"
cik: "0001627475"
company_name: "UPWORK, INC"
filed_at: "2021-08-06T23:59:59+00:00"
generated_at: "2026-06-29T20:33:35.859953+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Upwork prices $500M convertible note offering at 0.25% due 2026, terminates SVB loan

## Summary
- Priced $500.0M of 0.25% convertible senior notes due 2026; initial purchasers may buy $75.0M additional.
- Net proceeds expected ~$487.0M; ~$43.0M used for capped call transactions to reduce dilution.
- Initial conversion price $66.08/share, a 42.5% premium over $46.37 closing price on Aug 5, 2021.
- Notes mature Aug 15, 2026; interest payable semiannually; redeemable at Upwork's option after Aug 20, 2024.
- Terminated Loan and Security Agreement with Silicon Valley Bank and repaid all outstanding amounts.

## SEC filing metadata
- accession: 0001628280-21-015997
- form_type: 8-K
- ticker: UPWK
- cik: 0001627475
- company_name: UPWORK, INC
- filed_at: 2021-08-06T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1627475/000162828021015997/0001628280-21-015997-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1627475/000162828021015997/upwork-20210805.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-21-015997
- JSON: https://secwatch.observer/filing/0001628280-21-015997.json
- Plain text: https://secwatch.observer/filing/0001628280-21-015997.txt

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