Latham & Watkins Advises Opendoor Technologies Inc. in US$325 Convertible Senior Notes Issuance and Exchange

Opendoor Technologies Inc. announced it has entered into privately negotiated exchange and subscription agreements with holders of the Company’s 0.25% Convertible Senior Notes due 2026 (2026 Notes) and new investors, pursuant to which the Company will issue US$325.0 million aggregate principal amount of its 7.000% Convertible Senior Notes due 2030 (2030 Notes) consisting of (a) exchanging approximately US$245.8 million principal amount of 2030 Notes for 2026 Notes and (b) issuing approximately US$79.2 million principal amount of 2030 Notes for cash, in each case, pursuant to exemptions from registration under the Securities Act of 1933.

Latham & Watkins LLP represents Opendoor in the transaction with a corporate team led by partners Reza Mojtabaee-Zamani, Ross McAloon, and Haim Zaltzman, with associates Katie Marren, Shawn Noh, Chelsi DeTurk, and Dillon Curtis.