07:56 AM EST, 02/24/2025 (MT Newswires) -- Unity Software ( U ) said Monday it plans to offer $500 million total principal amount of convertible senior notes due 2030 in a private offering.

The company said it also plans to provide the initial buyers of the notes with a 13-day option to purchase up to an additional $75 million of the notes.

Unity said it intends to use the net proceeds, along with cash on hand, to repurchase roughly $500 million of its 0% convertible senior notes due 2026, and for general corporate purposes.

Shares of the company were down more than 5% in recent Monday premarket activity.