Flash FinanceUS
Market open S&P 5007,376.86+0.31% Nasdaq24,579.42+1.09% Dow 3051,285.73-0.46% Russell 20002,754.11+0.89% Nasdaq-10026,989.99+1.35% MidCap 4003,602.50+0.56% SmallCap 6001,673.98+0.05% VIX25.64-9.01% 10Y Yield4.86+0.45% Close of Nov 06, 2026
AI brief of an SEC Form 8-K · PROCORE TECHNOLOGIES, INC. (PCOR)

Procore closes $950 million 0% convertible notes offering due 2031

Neutral Impact 4 of 5 financing Written later

Procore Technologies completed a private offering of $950 million of 0% convertible senior notes due August 15, 2031, including the full $125 million option for initial purchasers. The conversion price of about $82.89 is a 50% premium over the $55.26 closing price on August 3, 2026, and the notes carry no regular interest, which adds debt but no cash coupon for the company.

Key points

  • Offering of $950 million principal, including the full $125 million option, closed August 6, 2026 under an indenture with U.S. Bank Trust Company as trustee
  • Initial conversion price of about $82.89 per share, a 50% premium over the $55.26 NYSE closing price on August 3, 2026
  • Company expected net proceeds of about $804.4 million before the option, or about $926.6 million with it, to fund part of the DroneDeploy cash consideration, a capped call cost of about $51.3 million, and about $175 million of share repurch
  • Company may not redeem the notes before August 20, 2029, except in a cleanup redemption when less than $100 million remains outstanding

The filing

CompanyPROCORE TECHNOLOGIES, INC. (PCOR)
Form8-K, current report
Filed with the SECAug 6, 2026, 5:20 PM ET
Accession number0001193125-26-338452

Items reported: 1.01 Material Definitive Agreement2.03 New Direct Financial Obligation3.02 Unregistered Equity Sale8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 8:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 06, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.