Upstart falls after unveiling $500 million convertible bonds offering

Upstart Holdings

11/08/2025 12:58

** Consumer lender Upstart's UPST.O shares fall 5.9% to $64.74 premarket

** UPST announces private offering of $500 million of convertible bonds due 2032

** Proceeds will be used to repurchase a portion of its convertible bonds due 2026 and to pay cost of capped calls, derivative transactions to offset dilution

** UPST has 96.2 million outstanding shares for $6.6 billion market cap

** 6 of 15 brokerages rate the stock "buy" or higher, 8 "hold" and 1 "sell"; median PT $82 - data compiled by LSEG

** As of last close, UPST stock up 11.7% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com))