03:40 AM EDT, 05/28/2025 (MT Newswires) -- DoorDash ( DASH ) said late Tuesday it has priced $2.5 billion worth of zero percent convertible senior notes due 2030 in a private offering, upsized from $2 billion previously.

The online food delivery platform said it granted initial purchasers a 13-day option to purchase an additional $250 million worth of notes.

The sale to the initial purchasers is expected to settle Friday, the company said.

The initial conversion rate is 3.4250 shares of DoorDash ( DASH ) per $1,000 principal amount of notes, which represents an initial conversion price of about $291.97 per share.

DoorDash ( DASH ) said it estimates the net proceeds to be around $2.47 billion, which the company intends to use to fund financial transactions and for general corporate purposes.