DoorDash, Inc. (NASDAQ: DASH) has announced the closing of its previously announced private offering of $2.75 billion aggregate principal amount of 0% convertible senior notes due 2030. The notes were sold to qualified institutional buyers under Rule 144A of the U.S. Securities Act of 1933. This offering includes the initial upsized offering of $2.5 billion and the full exercise of a $250 million option to purchase additional notes. The net proceeds from the offering amounted to approximately $2,720 million, after fees and expenses. A portion of these proceeds, approximately $338.5 million, was used to fund convertible note hedge transactions, with the remainder intended for general corporate purposes, including potential acquisitions and share repurchases.
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