Upstart Holdings, Inc. (UPST), an artificial intelligence lending platform, Monday said it intends to privately offer $500 million of senior notes due 2032.
Upstart also expects to grant the initial purchasers of the notes an option to purchase, within a 13-day period, up to an additional $75 million of the notes.
Upstart intends to use a portion of the net proceeds from the offering to pay the cost of the capped call transactions which the company plans to enter into with one or more of the initial purchasers or their respective affiliates and/or other financial institutions. The company also expects to use a part of the proceeds to repurchase for cash a portion of its outstanding 0.25% convertible senior notes due 2026. Remainder of the proceeds from the offering is expected to be used for general corporate purposes.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.