The Investor
07 Sep 2025, 20:27
Lyft raises $500M through convertible notes offering
Lyft (NASDAQ: LYFT) announced it has raised $500 million through the issuance of 0% Convertible Senior Notes due 2030. The deal included a $450 million base issuance and an additional $50 million after underwriters exercised their option in full.
The notes, issued under an indenture with U.S. Bank Trust Company, are senior unsecured obligations, maturing on September 15, 2030. They carry no regular interest but are convertible into Lyft Class A common stock at an initial conversion price of $23.52 per share (42.517 shares per $1,000 note).
Lyft also entered into capped call transactions with a $33.60 per share cap to mitigate dilution. Net proceeds of $487.7 million were partly used to fund capped calls ($42M) and repurchase 5.7 million shares of Class A stock ($95.7M). Remaining funds will go toward potential future buybacks, working capital, and strategic investments.
Lyft (NASDAQ: LYFT) announced it has raised $500 million through the issuance of 0% Convertible Senior Notes due 2030. The deal included a $450 million base issuance and an additional $50 million after underwriters exercised their option in full.
The notes, issued under an indenture with U.S. Bank Trust Company, are senior unsecured obligations, maturing on September 15, 2030. They carry no regular interest but are convertible into Lyft Class A common stock at an initial conversion price of $23.52 per share (42.517 shares per $1,000 note).
Lyft also entered into capped call transactions with a $33.60 per share cap to mitigate dilution. Net proceeds of $487.7 million were partly used to fund capped calls ($42M) and repurchase 5.7 million shares of Class A stock ($95.7M). Remaining funds will go toward potential future buybacks, working capital, and strategic investments.
