Procore prices upsized USD 825 million 0% convertible senior notes due 2031

Reuters2026/08/04 04:19

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Procore priced an upsized USD 825 million offering of 0.00% Convertible Senior Notes due 2031 in a Rule 144A private placement.
Deal increased from USD 750 million; initial purchasers hold a 13-day option for up to an additional USD 125 million.
Net proceeds estimated at about USD 804.4 million, or about USD 926.6 million if the option is fully exercised.
Proceeds earmarked for the DroneDeploy acquisition financing, capped call costs, a USD 175 million concurrent share repurchase, general corporate purposes.
Notes expected to close Aug. 6, 2026; initial conversion price about USD 82.89 per share, a 50% premium to the Aug. 3 close.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Procore Technologies Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20260803849936) on August 04, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Procore prices upsized USD 825 million 0% convertible senior notes due 2031

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