Robinhood closes $2.2 billion of 0% convertible notes due 2029

Robinhood closed a $2.2 billion offering of 0.00% convertible senior notes due October 1, 2029 on June 25, 2026, including a $200 million option exercised in full on June 23. About $290 million of net proceeds went to repurchasing 2,743,000 Class A shares at $105.71 each. The conversion price is about $174.42 per share, so the notes are a dilution source only above that level.

• $2.2 billion of 0.00% convertible senior notes due October 1, 2029
• $200 million option exercised in full on June 23, 2026
• About $290 million of net proceeds used to repurchase 2,743,000 shares at $105.71
• Conversion price about $174.42 per share
• Purchase agreement dated June 22, 2026; closing June 25, 2026