Opendoor Technologies Inc. Announces Pricing of Secondary Public Offering by Selling Stockholder
September 14 2021 - 7:30AM
Opendoor Technologies Inc. (Nasdaq: OPEN) (“Opendoor”), a leading
digital platform for residential real estate, today announced the
pricing of its previously announced registered secondary public
offering of 28,000,000 shares of common stock by an existing
stockholder of Opendoor (the “Selling Stockholder”). The Selling
Stockholder has also granted the underwriter a 30-day option to
purchase up to an additional 4,200,000 shares of common stock from
the Selling Stockholder. Opendoor is not selling any shares and
will not receive any proceeds from the offering, which is expected
to close on September 16, 2021, subject to customary closing
conditions.
Citigroup Global Markets Inc. is acting as sole
book-running manager for the offering. Citigroup proposes to offer
the shares of common stock for sale from time to time in one or
more transactions on The Nasdaq Global Select Market, in the
over-the-counter market, through negotiated transactions or
otherwise at market prices prevailing at the time of sale, at
prices related to prevailing market prices or at negotiated prices,
subject to receipt and acceptance by them and subject to their
right to reject any order in whole or in part.
The offering is being made only by means of a
prospectus supplement and accompanying base prospectus. Opendoor
has filed a registration statement (including a base prospectus)
which has been declared effective by the Securities and Exchange
Commission (“SEC”) and has also filed a preliminary prospectus
supplement with the SEC for the offering to which this
communication relates and will file a final prospectus supplement
relating to the offering. Prospective investors should read the
prospectus supplement and base prospectus in that registration
statement and other documents Opendoor has filed with the SEC for
more complete information about Opendoor and the offering. You may
obtain these documents for free by visiting EDGAR on the SEC’s
website at www.sec.gov. Alternatively, copies of the preliminary
prospectus supplement and the accompanying base prospectus for the
offering may be obtained by contacting: Citigroup Global Markets
Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717, or by telephone at (800) 831-9146 or by
email at prospectus@citi.com.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy any securities and
shall not constitute an offer, solicitation or sale in any
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of that jurisdiction. Any offers, solicitations or
offers to buy, or any sales of securities will be made in
accordance with the registration requirements of the Securities Act
of 1933, as amended.
About Opendoor
Opendoor’s mission is to empower everyone with
the freedom to move. Since 2014, Opendoor has provided people
across the U.S. with a radically simple way to buy, sell or
trade-in a home online. Opendoor currently operates in a growing
number of markets across the U.S.
Cautionary Note Regarding
Forward-Looking Statements
This press release contains “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, as amended. Such forward-looking statements are
based on Opendoor’s beliefs and assumptions and on information
currently available to it on the date of this press release.
Forward-looking statements may involve known and unknown risks,
uncertainties and other factors that may cause Opendoor’s actual
results, performance or achievements to be materially different
from those expressed or implied by the forward-looking statements.
Such forward-looking statements include, among other things,
statements regarding the timing, size and completion of the
secondary offering of common stock. The forward-looking statements
contained herein are based upon Opendoor’s current expectations and
involve assumptions that may never materialize or may prove to be
incorrect. Actual results could differ materially from those
projected in any forward-looking statements due to numerous risks
and uncertainties, including, but not limited, to risks and
uncertainties related to market conditions and satisfaction of
customary closing conditions related to the secondary offering, and
other risks. Except to the extent required by law, Opendoor
undertakes no obligation to update such statements to reflect
events that occur or circumstances that exist after the date on
which they were made.
Contact Information
Investors:Elise
WangOpendoorinvestors@opendoor.com
Media:Sheila Tran / Charles
StewartOpendoorpress@opendoor.com
Opendoor Technologies (NASDAQ:OPEN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Opendoor Technologies (NASDAQ:OPEN)
Historical Stock Chart
From Apr 2023 to Apr 2024