DoorDash To Privately Place $2 Bln Of Convertible Sr. Notes

(RTTNews) - DoorDash, Inc. (DASH), a local commerce platform, Tuesday said it plans to privately offer $2 billion of convertible senior notes due 2030.

The company intends to grant the initial purchasers an option to purchase an additional $200 million of notes.

DoorDash intends to use a part of the net proceeds to fund the convertible note hedge transactions, and the rest for general corporate purposes including potential acquisitions and share buybacks.

In connection with the pricing of the notes, DoorDash expects to enter into privately negotiated convertible note hedge transactions and warrant transactions with one or more of the initial purchasers of the notes and/or their respective affiliates and/or other financial institutions.