secwatch.observer — SEC 8-K summary
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Issuer:     Opendoor Technologies Inc. (OPEN)
CIK:        0001801169
Form:       8-K
Filed at:   2023-03-13T23:59:59+00:00
Accession:  0001801169-23-000040
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 7.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1801169/000180116923000040/0001801169-23-000040-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1801169/000180116923000040/open-20230313.htm
  HTML page:      https://secwatch.observer/filing/0001801169-23-000040

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