---
schema_version: "secwatch.filing_event.v1"
accession: "0001759509-24-000040"
form_type: "8-K"
ticker: "LYFT"
cik: "0001759509"
company_name: "Lyft, Inc."
filed_at: "2024-02-28T23:59:59+00:00"
generated_at: "2026-06-05T09:10:12.091292+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Lyft prices $460M of 0.625% convertible notes due 2029; to repurchase 2025 notes and buy back $50M stock

## Summary
- $400M base notes + $60M overallotment; 0.625% coupon, convertible at $21.08/share (47.4366 shares/$1,000).
- Net proceeds of ~$448.2M; ~$350M used to retire ~$356.8M of 1.5% convertible notes due 2025.
- ~$50M used to buy back 3.14M shares of common stock at $15.91/share; capped call transactions set cap at $31.82.
- Capped call transactions reduce potential dilution upon conversion; option counterparties may hedge by buying shares.

## SEC filing metadata
- accession: 0001759509-24-000040
- form_type: 8-K
- ticker: LYFT
- cik: 0001759509
- company_name: Lyft, Inc.
- filed_at: 2024-02-28T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1759509/000175950924000040/0001759509-24-000040-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1759509/000175950924000040/lyft-20240222.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001759509-24-000040
- JSON: https://secwatch.observer/filing/0001759509-24-000040.json
- Plain text: https://secwatch.observer/filing/0001759509-24-000040.txt

## Key facts
- Debt Financings
  Lyft, Inc. incurred convertible notes of $400 million aggregate principal amount of its 0.625% Convertible Senior Notes due 2029 (the "Base Notes") with BofA Securities, Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC at 0.625% per year maturing March 1, 2029.
  - Instrument: convertible notes
  - Principal: $400 million aggregate principal amount of its 0.625% Convertible Senior Notes due 2029 (the "Base Notes")
  - Counterparty: BofA Securities, Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC
  - Rate: 0.625% per year
  - Maturity: March 1, 2029
  - Event: incurrence
  source text: On February 22, 2024, Lyft, Inc. (the “Company”) entered into a purchase agreement (the “Purchase Agreement”) with BofA Securities, Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, as representatives of the several initial purchasers (the “Initial Purchasers”), to issue and sell $400 million aggregate principal amount of its 0.625% Convertible Senior Notes due 2029 (the “Base Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1759509/000175950924000040/0001759509-24-000040-index.htm
- Debt Financings
  Lyft, Inc. incurred convertible notes of an additional $60 million aggregate principal amount of such notes on the same terms and conditions, solely to cover ove with BofA Securities, Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC at 0.625% per year maturing March 1, 2029.
  - Instrument: convertible notes
  - Principal: an additional $60 million aggregate principal amount of such notes on the same terms and conditions, solely to cover ove
  - Counterparty: BofA Securities, Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC
  - Rate: 0.625% per year
  - Maturity: March 1, 2029
  - Event: incurrence
  source text: of its 0.625% Convertible Senior Notes due 2029 (the “Base Notes”). In addition, the Company granted the Initial Purchasers a 13-day option to purchase up to an additional $60 million aggregate principal amount of such notes on the same terms and conditions, solely to cover over-allotments (the “Additional Notes” and together with the Base Notes, the “Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1759509/000175950924000040/0001759509-24-000040-index.htm
- Material Agreements
  Lyft, Inc. entered into Purchase Agreement with BofA Securities, Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, as representatives of the several initial purchasers valued at $400 million aggregate principal amount (effective 2024-02-22).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: BofA Securities, Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, as representatives of the several initial purchasers
  - Value: $400 million aggregate principal amount
  - Effective: 2024-02-22
  source text: On February 22, 2024, Lyft, Inc. (the “Company”) entered into a purchase agreement (the “Purchase Agreement”) with BofA Securities, Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, as representatives of the several initial purchasers (the “Initial Purchasers”), to issue and sell $400 million aggregate principal amount of its 0.625% Convertible Senior Notes due 2029 (the “Base Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1759509/000175950924000040/0001759509-24-000040-index.htm

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