- Robinhood Markets finalized a private offering of $2.2 billion in 0.00% convertible senior notes due 2029, which included a full exercise of a $200 million over-allotment option.
- The company utilized approximately $290 million of the net proceeds to repurchase 2.743 million shares of its Class A common stock concurrently with the offering.
- To mitigate potential dilution, Robinhood spent $123.2 million on capped call transactions, effectively raising the net dilution threshold to a share price of approximately $237.85.
Quotes
“Our business continues to grow rapidly as we deliver industry-leading products to our customers. And this transaction gives us even more strategic flexibility to invest for future growth.”