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Opendoor Distributes Special Dividend of Tradable Warrants to Shareholders

OPEN
  • Opendoor Technologies Inc. distributed Series K, Series A, & Series Z warrants to stockholders of record as of November 18, 2025, & convertible noteholders on November 21, 2025.
  • Eligible investors received one warrant of each series for every 30 shares of common stock held, rounded down to the nearest whole number with no fractional warrants issued.
  • Exercise prices are set at $9.00 for Series K, $13.00 for Series A, & $17.00 for Series Z warrants.
  • Warrants are initially exercisable for cash but may be subject to net exercise at the Company's discretion.
  • Each warrant series expires on November 20, 2026, unless an Early Expiration Price Condition is met, which accelerates expiration to the first trading day following the 20th trading day where the stock's daily volume-weighted average price equals or exceeds the trigger price.
  • Early expiration trigger prices are $10.80 for Series K, $15.60 for Series A, & $20.40 for Series Z.
  • Holders of the 7.000% Convertible Senior Notes due 2030 received warrants based on the conversion rate applicable on the Record Date without converting the notes.
  • The warrants are expected to trade on The Nasdaq Stock Market under tickers OPENW (Series K), OPENL (Series A), & OPENZ (Series Z).
  • A Form 8-A warrant registration statement detailing the terms was filed with the SEC on November 21, 2025.