Redfin Corporation’s $500 Million Notes Offering

Fenwick & West LLP advised Redfin Corporation on the deal.

Redfin Corporation (NASDAQ: RDFN), a technology-powered real estate broker, instant home-buyer, lender, title insurer and renovations company, announced its offering and sale of $500 million aggregate principal amount of 0.50% convertible senior notes due 2027 to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. 

The net proceeds from the offering are approximately $487.9 million, after deducting the initial purchasers’ discount and estimated offering expenses payable by Redfin. The sale closed on March 25, 2021. Fenwick also assisted Redfin with its entry into capped call transactions to manage potential dilution from the new notes, using $54.5 million of the net proceeds.

The Fenwick transaction team included corporate partners Alan Smith (Picture), David Michaels and Katherine Duncan; associates Daisy Chen, Annie Omata and Grace Fernandez; and law clerk Danielle Coleman.



Involved fees earner: Daisy Chen – Fenwick & West LLP; Katherine Duncan – Fenwick & West LLP; Grace Fernandez – Fenwick & West LLP; David Michaels – Fenwick & West LLP; Annie Omata – Fenwick & West LLP; Alan Smith – Fenwick & West LLP;

Law Firms: Fenwick & West LLP;

Clients: Redfin Corporation;

Author: Martina Bellini