SCHEDULE: Context Capital Management Amends SEC Filing, Disclaiming Opendoor Technologies Common Stock Ownership

Context Capital Management and related entities have filed an amended Schedule 13G, clarifying they do not beneficially own common stock of Opendoor Technologies Inc. previously linked to convertible senior notes.

Summary

• Context Capital Management, LLC, Michael S. Rosen, William D. Fertig, Charles E. Carnegie, and Context Partners Master Fund, L.P. have filed an Amendment No. 1 to their Schedule 13G for Opendoor Technologies Inc.
• The reporting persons previously filed an initial Schedule 13G reporting beneficial ownership of Opendoor Technologies Inc. common stock.
• This previous reporting was based on shares issuable upon conversion of Opendoor's 7% convertible senior notes due 2030.
• The reporting persons have now determined that they do not beneficially own any shares of Opendoor Technologies Inc. common stock.
• The reason for this determination is that the convertible notes are not convertible at the discretion of any of the reporting persons.
• As a result, the aggregate amount beneficially owned by each reporting person is 0.00 shares, representing 0.0% of the class of common stock.

Sentiment

Score: 5

Explanation: Neutral, as the filing is a technical amendment clarifying beneficial ownership and has no direct impact on the company's operational or financial performance.

Management Comments

• The reporting persons do not beneficially own any shares of Common Stock.
• The reporting persons filed an initial Schedule 13G reporting beneficial ownership of shares of Common Stock issuable on conversion of the issuers 7% convertible senior notes due 2030.
• However, the reporting persons have determined that they do not beneficially own any shares of Common Stock because the notes are not convertible at the discretion of any of the reporting persons.
• Each reporting person also disclaims beneficial ownership of the securities reported in this Schedule 13G, except to the extent of that person’s pecuniary interest therein.
• The filing of this Schedule 13G on behalf of LP should not be construed as an admission that it is, and it disclaims that it is, a beneficial owner, as defined in Rule 13d-3 under the Act, of any of the securities covered by this Schedule 13G.

Industry Context

This filing is a standard regulatory disclosure related to beneficial ownership and does not provide insights into broader industry trends for the real estate technology sector.

Stakeholder Impact

• Minimal impact on shareholders, as the filing clarifies that certain entities do not hold beneficial ownership, correcting a previous reporting.

Key Dates

Keywords

Opendoor Technologies Inc., Schedule 13G, Amendment, Beneficial Ownership, Common Stock, Convertible Senior Notes, Context Capital Management, SEC Filing, Investment Adviser, Ownership Disclosure