Upstart announces offering of $425M of Convertible Senior Notes due 2030

Upstart (UPST) Holdings announced its intention to offer, subject to market conditions and other factors, $425M aggregate principal amount of Convertible Senior Notes due 2030 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act of 1933, as amended. Upstart intends to use the net proceeds from the offering for general corporate purposes, which may include the repayment or the retirement of existing debt.