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OFFON

OPENDOOR TECHNOLOGIES INC.

(OPEN)
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OPENDOOR TECHNOLOGIES INC. : Other Events, Financial Statements and Exhibits (form 8-K)

09/17/2021 | 05:22pm EST
Item 8.01. Other Events.



On September 14, 2021, Opendoor Technologies Inc. (the "Company") entered into an underwriting agreement (the "Underwriting Agreement") with Citigroup Global Markets Inc. (the "Underwriter"), and SVF Excalibur (Cayman) Limited (the "Selling Stockholder"), relating to the public offering (the "Offering") by the Selling Stockholder of 28,000,000 shares of its common stock of the Company, par value $0.0001 per share (the "Common Stock"), and a 30-day option granted to the Underwriter to purchase up to an additional 4,200,000 shares of Common Stock from the Selling Stockholder, at a price to the public of $16.69 per share. On September 16, 2021, the Offering of 28,000,000 shares of Common Stock by the Selling Stockholder to the Underwriter was completed. On September 16, 2021, the Underwriter exercised in full its option to purchase additional shares, and on September 17, 2021, the Offering of an additional 4,200,000 shares of Common Stock by the Selling Stockholder to the Underwriter was completed.

The shares of Common Stock in the Offering were offered on a prospectus supplement, which amended and supplemented the prospectus dated March 12, 2021, which forms a part of the Company's Registration Statement on Form S-1 (Registration No. 333-251529), as previously supplemented by the prospectus supplements filed by us on March 18, 2021, April 2, 2021, July 30, 2021, August 11, 2021, August 16, 2021, August 18, 2021 and August 24, 2021. The Company did not receive any proceeds from the Offering.

The Underwriting Agreement contains customary representations, warranties, covenants and closing conditions. It also provides for customary indemnification by each of the Company, the Selling Stockholder and the Underwriter against certain liabilities and customary contribution provisions in respect of those liabilities.

The Underwriting Agreement is attached hereto as Exhibit 1.1 and is incorporated herein by reference. The foregoing description of the Underwriting Agreement does not purport to be complete and is qualified in its entirety by reference to such exhibit.



  Item 9.01 Financial Statements and Exhibits.




  (d) Exhibits.




Exhibit No.   Description

  1.1           Underwriting Agreement, dated as of September 14, 2021, by and
              among Opendoor Technologies Inc., Citigroup Global Markets Inc., as
              underwriter, and the selling stockholder named therein.
104           Cover Page Interactive Data File (Cover page XBRL tags are embedded
              within the Inline XBRL document)

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2021 7 353 M - -
Net income 2021 -603 M - -
Net Debt 2021 4 407 M - -
P/E ratio 2021 -9,16x
Yield 2021 -
Capitalization 5 734 M 5 734 M -
EV / Sales 2021 1,38x
EV / Sales 2022 0,80x
Nbr of Employees 1 048
Free-Float -
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Number of Analysts 8
Last Close Price 9,36 $
Average target price 23,00 $
Spread / Average Target 146%
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Managers and Directors
Eric Wu Chairman & Chief Executive Officer
Andrew Low Ah Kee President
Carrie Ann Wheeler Chief Financial Officer
Ian Wong Chief Technology Officer
Daniel Morillo Chief Investment Officer