Convertibles Calendar: Opendoor, Upstart Holdings on tap

Aug. 17

OPENDOOR TECHNOLOGIES INC.:

• $750 million five-year convertible notes

• $112.5 million greenshoe

• Coupon of 0% to 0.5% and initial conversion premium of 30% to 35%

• Citigroup Global Markets Inc. (lead left) and Morgan Stanley & Co. LLC

• Rule 144A

• Non-callable for three years and then subject to a 130% hurdle

• Proceeds to cover the cost of the call spread and for general corporate purposes

• San Francisco-based online residential real estate company

UPSTART HOLDINGS INC.:

• $575 million five-year convertible notes

• $86.25 million greenshoe

• Coupon of 0% to 0.5 and initial conversion premium of 42.5% to 47.5%

• Goldman Sachs & Co. LLC and BofA Securities Inc.

• Rule 144A

• Proceeds to cover the cost of the call spread and for general corporate purposes

• San Mateo, Calif.-based artificial intelligence consumer lending platform

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