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Upwork To Raise $500M Via Convertible Senior Notes Private Offering

Upwork Inc (NASDAQ:UPWK) plans to offer $500 million of convertible senior notes due 2026 in a private placement. Upwork also intends…
byAkanksha
August 5, 2021
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  • Upwork Inc (NASDAQ:UPWK) plans to offer $500 million of convertible senior notes due 2026 in a private placement.
  • Upwork also intends to grant the initial purchasers an option to purchase up to an additional $75.0 million of notes. The notes will mature on August 15, 2026. Interest will be payable semiannually in arrears.
  • Upwork intends to use a portion of the net proceeds to pay the cost of the capped call transactions and the remainder for general corporate purposes.
  • Price Action: UPWK shares are trading lower by 8.18% at $47.05 on the last check Thursday.
 
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