Airbnb Seeks to Raise $2 Billion From Convertible Notes Issue

The issue will be made in a private offering to qualified institutional investors. Airbnb added that it will utilize the proceeds of the issue to pay the costs of entering into capped call transactions, basically a method of reducing the potential dilution that could arise from a big influx of new shares. Despite a recent pull-back in its share price and declines in key fundamentals due largely to the coronavirus pandemic, Airbnb has been a real hit with investors since its IPO last December.