Opendoor raises $650M via convertible notes, repurchases 5% of shares in first-ever buyback

Filed August 13, 2026 · Period ending August 12, 2026 · ~1 min read

Key Changes

• high

  Issued $650M of 0% convertible senior notes due 2030 at $4.71 conversion price (35% premium to $3.49 close), potentially adding 138M shares if fully converted.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• high

  Repurchasing 45.3M shares (5% of outstanding) for $158M at $3.49 per share—the company's first share repurchase as a public company.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• high

  Purchased capped call options covering note shares with $6.98 cap (100% premium to close) for ~$52.5M to reduce dilution; combined with buyback, no net issuance expected until stock exceeds $10.38.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →