Opendoor Technologies Announces Share Offering to Strengthen Balance Sheet
Opendoor Technologies (OPEN) has filed to issue 180.58 million shares at $6.56 each, aiming to swap debt for equity and improve liquidity. The MOVE includes a Registered Direct Offering and Convertible Notes Repurchase, with proceeds directed toward buying back $264 million in convertible notes due 2030.
While the offering dilutes existing shareholders, it underscores the company's commitment to reducing leverage and ensuring long-term stability. Shareholders will also receive tradable warrants on a 1-for-30 basis, distributed to holders of record by November 18, 2025.
The announcement follows Opendoor's Q3 results, which revealed $915 million in revenue alongside a $90 million net loss. The firm sold 2,568 homes and maintains over $1 billion in inventory. Under new CEO Kaz Nejatian, Opendoor is pivoting toward a leaner, software-centric operational model.
