Upstart Holdings (UPST) said Tuesday that it plans to offer $425 million aggregate principal amount of convertible senior notes due 2030 to qualified institutional investors through a private offering.
The company said it plans to grant initial buyers a 13-day option to purchase up to an additional $75 million principal amount of the notes.
Upstart said the offering remains subject to market conditions and other factors, and proceeds will be used for general corporate purposes.
Upstart shares dropped nearly 12% in recent trading.
Price: 68.21, Change: -9.27, Percent Change: -11.97
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments