Robinhood Closes $2.2B Convertible Notes Offering; Repurchases Shares

Robinhood Markets, Inc. announced the closing of its previously announced private offering of $2.2 billion aggregate principal amount of 0.00% convertible senior notes due 2029. The offering included the full exercise of a $200 million option to purchase additional notes. Robinhood utilized approximately $290 million of the net proceeds to repurchase 2.743 million shares of its Class A common stock and $123.2 million for capped call transactions to mitigate potential share dilution. The company anticipates no net dilution from the transaction until its share price exceeds $237.85, or $303.95 when factoring in the share repurchase, providing strategic flexibility for future growth.