Upstart Holdings Intends To Offer $300M Of Convertible Senior Notes Due 2029 In Private Offering
Portfolio Pulse from Benzinga Newsdesk
Upstart Holdings plans to offer $300 million of convertible senior notes due 2029 in a private offering. This move is likely aimed at raising capital for growth or operational needs.
September 16, 2024 | 10:51 am
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Upstart Holdings is issuing $300 million in convertible senior notes due 2029, which could provide the company with additional capital for growth or operational needs. This may affect the company's financial flexibility and leverage.
The issuance of convertible senior notes is a significant financial decision that can impact Upstart's capital structure. It provides the company with immediate capital, which can be used for growth or operational purposes. However, it also increases the company's debt load and could lead to dilution if the notes are converted into equity. The market's reaction will depend on how investors perceive the use of the raised capital and the terms of the notes.
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