Business
DoorDash Announces Proposed Private Offering of $2.0 Billion of Convertible Senior Notes
SAN FRANCISCO, May 27, 2025--DoorDash, Inc. (NASDAQ: DASH) ("DoorDash"), a leading local commerce platform globally, today announced that it intends to offer and sell, subject to market conditions and other factors, $2.0 billion aggregate principal amount of convertible senior notes due 2030 (the "notes") in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the U.S. Securities Act of 1933, as amended (the "Securities Act"). In conn
About this update from Doordash, Inc.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":260,"url":"https://media.zenfs.com/en/business-wire.com/b917391b2c79d69c54328ee1040ba6f3"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/ed9nyFqZJjX2A7f0K3U7sg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTUyMDtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/b917391b2c79d69c54328ee1040ba6f3","width":480,"height":260}},"lazy":false},{"type":"list","items":[{"val":[{"type":"text","content":"Opportunistic capital raise with proceeds used to enhance strategic flexibility","length":79,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"A portion of the proceeds to be used to purchase a hedge overlay intended to offset any share dilution until at least a targeted 125% premium to the current stock price","length":168,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":247,"olType":false},{"type":"text","content":"SAN FRANCISCO, May 27, 2025--(BUSINESS WIRE)--DoorDash, Inc. (NASDAQ: DASH) ("DoorDash"), a leading local commerce platform globally, today announced that it intends to offer and sell, subject to market conditions and other factors, $2.0 billion aggregate principal amount of convertible senior notes due 2030 (the "notes") in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the U.S. Securities Act of 1933, as amended (the "Securities Act"). In connection with the offering of the notes, DoorDash expects to grant the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $200.0 million aggregate principal amount of notes.","length":842,"tagName":"p"},{"type":"text","content":"The notes will be senior, unsecured obligations of DoorDash, will bear interest payable semi-annually in arrears and will mature on May 15, 2030, unless earlier repurchased, redeemed or converted in accordance with their terms. Prior to the close of business on the business day immediately before November 15, 2029, the notes will be convertible only upon satisfaction of certain conditions and during certain periods. From and after November 15, 2029, the notes will be c...