Procore plans private placement of USD 750 million convertible senior notes due 2031

• Procore announced a proposed private placement of USD 750 million Convertible Senior Notes due 2031 to qualified institutional buyers under Rule 144A.
• Net proceeds earmarked for the DroneDeploy acquisition, capped call transactions, concurrent stock repurchases, plus general corporate purposes.
• Company expects to use up to USD 175 million to repurchase common stock concurrent with pricing in privately negotiated transactions.
• Notes, plus any shares issuable on conversion, will be unregistered under the Securities Act.

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