---
schema_version: "secwatch.filing_event.v1"
accession: "0001801169-23-000040"
form_type: "8-K"
ticker: "OPEN"
cik: "0001801169"
company_name: "Opendoor Technologies Inc."
filed_at: "2023-03-13T23:59:59+00:00"
generated_at: "2026-06-18T04:41:57.818984+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Opendoor reveals <1% cash at SVB; 98% held in big four banks

## Summary
- Less than 1% of total cash, equivalents, and restricted cash was held at Silicon Valley Bank.
- Critical business operations were not run from SVB accounts.
- As of March 13, 2023, approximately 98% of cash is at the nation's four largest banks.
- Asset-backed credit facilities are with a diversified lender base and have staggered maturities.
- All credit facilities continue to operate per the terms in the most recent 10-K.

## SEC filing metadata
- accession: 0001801169-23-000040
- form_type: 8-K
- ticker: OPEN
- cik: 0001801169
- company_name: Opendoor Technologies Inc.
- filed_at: 2023-03-13T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1801169/000180116923000040/0001801169-23-000040-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1801169/000180116923000040/open-20230313.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001801169-23-000040
- JSON: https://secwatch.observer/filing/0001801169-23-000040.json
- Plain text: https://secwatch.observer/filing/0001801169-23-000040.txt

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