Benzinga | Aug 16, 2021 04:54PM EDT

Upstart Holdings, Inc. Announces Proposed Private Offering Of $575,000,000 Of Convertible Senior Notes Due 2026

Upstart Holdings, Inc. ("Upstart") (NASDAQ:UPST) today announced its intention to offer, subject to market conditions and other factors, $575,000,000 aggregate principal amount of Convertible Senior Notes due 2026 (the "notes") in a private offering (the "offering") to qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act of 1933, as amended (the "Securities Act"). Upstart also expects to grant the initial purchasers of the notes an option to purchase, within a 13-day period beginning on, and including, the date the notes are first issued, up to an additional $86,250,000 aggregate principal amount of the notes.