# PROCORE TECHNOLOGIES, INC. (PCOR) — capital_raise/private_placement [announced]
Source: SEC API (secapi.ai) · situation sit_38a26e09646fb4665bcc · retrieved 2026-08-12T07:01:34.937Z

## Overview
Procore Technologies, Inc. is a prepackaged software company providing cloud-based construction management solutions.

Procore Technologies, Inc. completed a private offering of $950,000,000 aggregate principal amount of 0.00% Convertible Senior Notes due August 15, 2031, including the full exercise of the initial purchasers' option to purchase an additional $125,000,000 principal amount. The Notes were issued pursuant to an indenture dated August 6, 2026 with U.S. Bank Trust Company, National Association, as trustee. The Notes have an initial conversion rate of 12.0642 shares of common stock per $1,000 principal amount (equivalent to an initial conversion price of approximately $82.89 per share), representing a 50% premium over the last reported sale price of $55.26 per share on August 3, 2026. The Company used approximately $59.1 million of net proceeds to pay the cost of capped call transactions and approximately $175 million to repurchase approximately 3.17 million shares of common stock, with remaining proceeds expected to be used for the previously announced acquisition of DroneDeploy, Inc. and general corporate purposes.

## Terms
- Counterparty: Initial purchasers (led by Goldman Sachs & Co. LLC) · Deal value: $950.0M · Consideration: cash · Premium: 50.0% · Price/share: $82.89

## Key dates
- Announced 2026-08-06

## Timeline
- 2026-08-06 · 8-K (0001193125-26-338452): 8-K - PROCORE TECHNOLOGIES, INC. — *Procore Technologies, Inc. is a prepackaged software company providing cloud-based construction management solutions.* Procore Technologies, Inc. completed a private offering of $950,000,000 aggregate principal amount of 0.00% Convertible Senior Notes due August 15, 2031, including the full exercise of the initial purchasers' option to purchase an additional $125,000,000 principal amount. The Notes were issued pursuant to an indenture dated August 6, 2026 with U.S. Bank Trust Company, National Association, as trustee. The Notes have an initial conversion rate of 12.0642 shares of common stock per $1,000 principal amount (equivalent to an initial conversion price of approximately $82.89 per share), representing a 50% premium over the last reported sale price of $55.26 per share on August 3, 2026. The Company used approximately $59.1 million of net proceeds to pay the cost of capped call transactions and approximately $175 million to repurchase approximately 3.17 million shares of common stock, with remaining proceeds expected to be used for the previously announced acquisition of DroneDeploy, Inc. and general corporate purposes.
  https://www.sec.gov/Archives/edgar/data/1611052/0001193125-26-338452.txt

## Citations
- 0001193125-26-338452 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000119312526338452