Why Is Upstart Stock Trading Lower On Monday?

Upstart Holdings Inc. (NASDAQ:UPST) stock is trading lower on Monday.

Over the last month, the stock has been down almost 13% as per data from Benzinga Pro.

Check the latest UPST price here.

On Monday, Upstart said it will offer $500 million of convertible senior notes due 2032 in a private offering.

Upstart also expects to grant the initial purchasers of the notes an option to purchase up to an additional $75 million of notes.

The notes will be senior, unsecured obligations of Upstart and will bear interest payable semi-annually in arrears. The notes will mature on Feb. 15, 2032.

Last week, Upstart released its second quarter financial results, with adjusted earnings per share of 36 cents, beating the consensus estimate of 26 cents.

The company reported sales of $257 million, beating the ...