Top entities: Procore Technologies, DroneDeploy, New York Stock Exchange, United States — United States dollar.

What category does this event fall under?

Business — classified as debt offering.

What is the sentiment of coverage?

Aggregate sentiment score: 10 on a -100 to +100 scale (negative = critical coverage, positive = favorable coverage).

Is this event still developing?

This is an active story, last updated Aug 04, 2026. Coverage continues to evolve.

Business debt offering

Procore prices $825M convertible notes

Q: When did this event occur?

First reported Aug 03, 2026; last updated Aug 04, 2026.

Q: What is the market impact?

General. The offering provides Procore with substantial capital to fund its acquisition of DroneDeploy and repurchase shares, potentially supporting its stock price.

Analysis based on 7 articles · First reported Aug 03, 2026 · Last updated Aug 04, 2026

Sentiment

Attention

Articles

Market Impact

General

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Market Impact

The offering provides Procore with substantial capital to fund its acquisition of DroneDeploy and repurchase shares, potentially supporting its stock price. The zero-coupon structure and capped call transactions may limit dilution, while the upsized offering signals strong investor demand.

Construction Software Financial Services

Event Summary

Procore Technologies, Inc. (NYSE: PCOR), a leading provider of construction management software, announced the pricing of $825.0 million aggregate principal amount of 0.00% Convertible Senior Notes due 2031 in a private placement to qualified institutional buyers. The offering was upsized from the initially proposed $750.0 million. Procore granted initial purchasers an option to buy up to an additional $125.0 million of notes. The sale is expected to close on August 6, 2026. Procore intends to use the net proceeds to partially fund its acquisition of DroneDeploy, Inc., pay for capped call transactions, repurchase up to $175 million of its common stock, and for general corporate purposes. The notes are zero-coupon, senior unsecured obligations, and upon conversion, Procore will pay cash up to the principal amount and may deliver cash, shares, or a combination for the excess. Procore also entered into capped call transactions to reduce potential dilution from conversion.

Entities Involved

stock

Procore Technologies

Procore is the issuer of the convertible notes, raising $825 million to fund its acquisition of DroneDeploy and repurchase shares. The offering strengthens its balance sheet and supports its growth strategy.

Importance 100.0 Sentiment 20.0

priv

DroneDeploy

DroneDeploy is the target of Procore's acquisition, which is partially funded by the note offering. The acquisition is expected to enhance Procore's construction software platform.

Importance 70.0 Sentiment 30.0

exch

New York Stock Exchange

Procore's common stock is listed on the New York Stock Exchange, and the repurchase price will be based on the last reported sale price on that exchange. The offering may influence trading activity in Procore's shares.

Importance 10.0 Sentiment 0.0

curr

United States — United States dollar

The offering is denominated in U.S. dollars, with $825 million in principal raised. The proceeds will be used in U.S. dollar transactions for the acquisition and share repurchases.

Importance 10.0 Sentiment 0.0

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