$PCOR (PROCORE TECHNOLOGIES) — 8-K: Procore to raise $750.0M via convertible notes to fund DroneDeploy acquisition

Procore Technologies intends to offer $750.0 million aggregate principal amount of Convertible Senior Notes due 2031 in a private placement, with an option for initial purchasers to buy an additional $112.5 million. Net proceeds will fund a portion of the DroneDeploy acquisition, capped call transactions, and concurrent share repurchases. The capped calls are expected to reduce potential dilution upon conversion. The interest rate and initial conversion rate will be determined at pricing.

Procore Technologies intends to offer $750.0 million aggregate principal amount of Convertible Senior Notes due 2031 in a private placement, with an option for initial purchasers to buy an additional $112.5 million. Net proceeds will fund a portion of the DroneDeploy acquisition, capped call transactions, and concurrent share repurchases. The capped calls are expected to reduce potential dilution upon conversion. The interest rate and initial conversion rate will be determined at pricing.