Opendoor Technologies Inc. consummated the issuance of $650.0 million aggregate principal amount of 0.00% Convertible Senior Notes due 2030 in a private placement on August 19, 2026. The notes carry an initial conversion rate of 212.2466 shares per $1,000 principal, representing a conversion price of approximately $4.71 per share and a potential issuance of up to 137,960,290 shares. To mitigate dilution, the company entered into capped call transactions for approximately $52.5 million with an initial cap price of $6.98 per share. Concurrently, Opendoor repurchased approximately $158 million of common stock from transaction participants and J. Wood Capital Advisors LLC purchased $25 million in shares at a discount. The company operates in the residential real estate technology sector.