Upstart Prices Upsized Offering Of $375M Of 2.00% Convertible Senior Notes Due 2029
Portfolio Pulse from Benzinga Newsdesk
Upstart has announced the pricing of an upsized offering of $375 million in 2.00% convertible senior notes due in 2029. These notes are senior, unsecured obligations and will mature on October 1, 2029, with interest payable semi-annually starting April 1, 2025.

September 17, 2024 | 6:09 am
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Upstart has priced an upsized offering of $375 million in 2.00% convertible senior notes due 2029. This move could provide the company with additional capital for growth and operations, potentially impacting its stock price positively in the short term.
The issuance of convertible notes provides Upstart with additional capital, which can be used for growth and operational purposes. This financial maneuver is generally seen as a positive move, as it indicates the company's ability to raise funds and invest in its future. The market may react positively to this news, leading to a potential short-term increase in Upstart's stock price.
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