TLDR:
- Opendoor (Nasdaq: OPEN) Issues Special Warrant Dividend to Shareholders
- Opendoor’s Warrants Offer Discounted Stock Purchase Opportunity
- Opendoor’s Series K, A, and Z Warrants Now Available for Trading
- Opendoor Shares Details on Special Dividend Warrant Distribution
- Opendoor Expands Shareholder Value with Special Warrant Dividend
Opendoor Technologies Inc. (Nasdaq: OPEN) has distributed a special dividend of tradable warrants to shareholders as of November 18, 2025. The warrants were issued on November 21, 2025, to eligible stockholders and certain convertible noteholders. Each eligible holder received one Series K, one Series A, and one Series Z warrant for every 30 shares held. At the time of the announcement, Opendoor’s stock was trading at $9.20 per share, signaling positive market momentum.
Opendoor Technologies Inc., OPEN
Details of the Warrant Dividend Distribution
Opendoor’s special dividend came in the form of three types of warrants—Series K, Series A, and Series Z. Stockholders of record, as of 5:00 p.m. New York City time on November 18, 2025, received one of each warrant for every 30 shares held. The warrants, with exercise prices set at $9.00 for Series K, $13.00 for Series A, and $17.00 for Series Z, offer shareholders an opportunity to purchase common stock at discounted prices. The exercise method is cash, though Opendoor may implement a net exercise provision if necessary.
The warrants are valid until November 20, 2026, with an early expiration clause triggered if the volume-weighted average price (VWAP) of Opendoor’s stock exceeds 120% of the exercise price for 20 trading days. This stipulation could lead to an early expiration of any series that meets the condition. The Series K warrants, for instance, will expire if the stock price hits $10.80 per share, triggering the early expiration.
Convertible Noteholders Receive Same Terms
Holders of Opendoor’s 7.000% Convertible Senior Notes due 2030 also received the warrants, ensuring equal treatment with stockholders. These noteholders did not have to convert their notes to receive the warrants. Instead, they received warrants based on the conversion rate of their notes as of the Record Date. Like stockholders, they received one Series K, one Series A, and one Series Z warrant for every 30 shares equivalent they would hold under the conversion terms.
The warrants issued to the convertible noteholders will follow the same terms and conditions as those given to stockholders, including the exercise price and expiration dates. This move aligns Opendoor’s actions with its goal of fostering strong shareholder relationships and demonstrating its commitment to long-term value creation.
Warrant Listing and Trading
Opendoor plans to list the Series K, Series A, and Series Z warrants on The Nasdaq Stock Market under the tickers OPENW, OPENL, and OPENZ, respectively. This listing will provide liquidity and transparency for the new securities, allowing shareholders and convertible noteholders to trade the warrants easily. With the warrants in circulation, Opendoor aims to enhance shareholder value while giving investors more flexibility in managing their positions in the company.
Opendoor’s strategic warrant distribution is a clear signal of the company’s intention to prioritize its shareholder base and its confidence in its future growth. The dividend aligns with CEO Kaz Nejatian’s commitment to offering tangible value and fostering strong relationships with Opendoor’s investors.
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