Robinhood prices $2.0B zero-coupon convertible notes due 2029, uses $290M for buybacks

Filed June 23, 2026 · Period ending June 22, 2026 · ~2 min read

Key Changes

• high

  Robinhood priced $2.0 billion of 0% convertible senior notes maturing October 2029 at a 65% conversion premium (~$174.42/share vs. $105.67 close), with a $200M greenshoe option. Notes are convertible into cash up to principal, with excess settled in cash, stock, or combination at company's election.

  Exhibit 99.2 view on EDGAR →
• high

  Net proceeds of ~$1.97B will fund $290M in concurrent share repurchases at June 22 closing price, $112M for capped call transactions to offset dilution through $237.85/share (125% premium), and remainder for general corporate purposes including growth investments and potential acquisitions.

  Exhibit 99.2 view on EDGAR →
• medium

  Robinhood can redeem notes starting July 2028 if stock trades at 120%+ of conversion price for 20 of 30 consecutive days. Holders can require repurchase at par upon fundamental change. Company retains flexibility to continue buybacks under existing program post-offering.

  Exhibit 99.1 verify on EDGAR →