Latham & Watkins Advises Opendoor on US$440 Million of Growth Capital

Opendoor Technologies Inc. (Nasdaq: OPEN), a leading e-commerce platform for residential real estate transactions, has announced a series of transactions whose proceeds will add US$440 million of growth capital to the balance sheet at a 0% coupon while reducing shares outstanding by 5%. The transactions consist of a US$650 million offering of 0% convertible senior notes due 2030, a US$158 million repurchase of approximately 45.3 million shares of Opendoor common stock, and capped call transactions. The offering is expected to settle on August 19, 2026, subject to customary closing conditions.

Latham & Watkins LLP represented Opendoor in the transaction with a team led by partners Reza Mojtabaee-Zamani, Ross McAloon, and Haim Zaltzman, with associates Shawn Noh, Rachel Staub, Tony Noh, and Henry Lin. Advice was also provided on tax matters by partner Aaron Bernstein, with associate Shiyi Parsons.