The Rule 144A offering involved 0.25% convertible senior notes due 2026

Davis Polk advised the representatives of the initial purchasers in connection with a Rule 144A offering by Opendoor Technologies Inc. of $850 million aggregate principal amount of its 0.250% convertible senior notes due 2026. Davis Polk also advised the counterparties to capped call transactions entered into by Opendoor in connection with the offering.

Opendoor is a leading digital platform for residential real estate. Opendoor was founded in 2014 to make it possible to buy, sell and move at the tap of a button. Since then, Opendoor has built scalable pricing capabilities, technology-enabled centralized operations and a suite of digital-first consumer products, to help them become the clear digital one-stop-shop for home buyers and sellers nationwide.

The Davis Polk corporate team included partner Emily Roberts and associates Benson Richards and Ganiatu Afolabi. The equity derivatives team included partner Mark J. DiFiore, counsel Justin Michael and associates Gregory Edgar Marchesini, Lindsey B. Meyers-Perez and Danielle Forni. Partner Po Sit and associate Ben Levenback provided tax advice. Members of the Davis Polk team are based in the Northern California and New York offices.