On September 19, 2024, Upstart Holdings, Inc. completed an upsized offering of $431.25 million aggregate principal amount of convertible senior notes due 2029 in a private transaction. The offering amount included the exercise in full of the option that Upstart had granted to the initial purchasers to purchase up to an additional $56.25 million of notes. In connection with the offering, Upstart entered into privately negotiated capped call transactions with certain of the initial purchasers or their respective affiliates and other financial institutions.
Wilson Sonsini Goodrich & Rosati represented Upstart in the transaction. The Wilson Sonsini team that represented Upstart included:
Corporate
Allison Spinner
Shannon Delahaye
Caiti VerBrugge
Partha Vora
Corporate Finance
Erik Franks
Alex Weber
Eaton Liu
Jinny Park
Derivatives
Andrew Ralston
Katie Barnes
Roshanne Arathoon
For more information, please see Upstart’s pricing news release.
