Compass Prices $850 Million Convertible Sr. Notes Offering

Compas a

11.35 EUR -0.04%

• Charts
• News
• Analysen

Kaufen Verkaufen

(RTTNews) - Compass, Inc. (COMP), a residential real estate brokerage, on Thursday said it has priced an offering of $850 million of convertible senior notes due 2031, increasing the deal size by $100 million from its earlier announcement.

The company also granted initial purchasers an option to buy up to an additional $150 million of the notes.

Compass said it plans to use the net proceeds for general corporate purposes. This includes, if its proposed merger with Anywhere Real Estate Inc. is completed, repaying certain debt of Anywhere, and covering merger-related fees and expenses. The proceeds will also be used to fund the net cost of capped call transactions entered into with certain initial purchasers and financial institutions.

The notes will bear interest of 0.25% per year and are initially convertible into 62.5626 shares of Compass Class A common stock per $1,000 principal amount, implying a conversion price of about $15.98 per share. This represents a conversion premium of roughly 35% to the stock's closing price on January 7, 2026.

The offering and capped call transactions are expected to close on or about January 9, 2026.

Compass shares closed up 9.33% at $11.84 on Wednesday.