Redfin’s $661.25 Million Notes Offering


Fenwick & West LLP advised Redfin on the deal.

Redfin (NASDAQ: RDFN), a technology-powered residential real estate company, announced its offering and sale of $661.25 million aggregate principal amount of 0% convertible senior notes due 2025 to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933.

The aggregate principal amount of the offering was increased to $575 million from the initially announced offering size of $525 million, and the initial purchaser of the notes exercised its option in full to purchase an additional $86.25 million aggregate principal amount of notes. The sale closed on October 20, 2020.

The Fenwick transaction team included corporate partners Alan Smith (Picture) and David Michaels; partners elect Katherine Duncan and Julia Forbess; and associates Lillian Icard, Lailey Rezai, Jenna Hsieh and R. Harrison Dilday.

Involved fees earner: Harrison Dilday – Fenwick & West LLP; Katherine Duncan – Fenwick & West LLP; Julia Forbess – Fenwick & West LLP; Jenna Hsieh – Fenwick & West LLP; Lillian Icard – Fenwick & West LLP; David Michaels – Fenwick & West LLP; Lailey Rezai – Fenwick & West LLP; Alan Smith – Fenwick & West LLP;

Law Firms: Fenwick & West LLP;

Clients: Redfin Corporation;

Author: Ambrogio Visconti