Robinhood Markets, Inc. - 8-K Filing
Robinhood Markets issued $2.2 billion in aggregate principal amount of 0.00% convertible senior notes due 2029, with an initial conversion price of approximately $174.42 per share (a 65% premium to the June 22 closing stock price). The company also entered into capped call transactions covering ~12.6 million shares to reduce potential dilution from conversions and used about $290 million in net proceeds for unspecified purposes. (Items: 1.01 Entry into a Material Agreement, 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, 3.02 Unregistered Sale of Equity Securities, 7.01 Regulation FD Disclosure)
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