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Opendoor Technologies Prices Follow-On Offering at $27 Per Share

· 02/05/2021 00:14

05:01 AM EST, 02/05/2021 (MT Newswires) -- Opendoor Technologies (OPEN), a digital platform for residential real estate, on Thursday announced the upsize and pricing of its follow-on public offering of approximately 28.5 million shares of its common stock at a price to the public of $27 per share.

All of the shares of common stock are being offered by Opendoor, the company said, adding that the gross proceeds from the offering are expected to be approximately $770 million.

The offering, which was upsized from a previously announced offering size of 24 million shares of common stock, is expected to close on Feb. 9.

In addition, Opendoor said that it has granted the underwriters the right to purchase up to approximately 4.3 million additional shares of common stock at the public offering price, less the underwriting discounts and commissions.

Price: 28.70, Change: +0.22, Percent Change: +0.77