Opendoor Announces Shareholder‑First Dividend of Tradable Warrants Aligning Shareholders and Management

Core Points - Opendoor Technologies Inc. announced a special dividend distribution of warrants to common stockholders as of November 18, 2025, aiming to align management's performance with shareholder benefits [1][2][3] Warrant Distribution Details - The warrants will be distributed on or about November 21, 2025, without any action or payment required from stockholders [4] - Each shareholder will receive three series of warrants (Series K, A, and Z) at a ratio of one warrant per thirty shares held, rounded down [5][6] - The exercise prices for the warrants are set at $9.00 for Series K, $13.00 for Series A, and $17.00 for Series Z, with an expiration date of November 20, 2026 [5][12] Trading and Liquidity - The warrants are expected to be listed on Nasdaq under the tickers OPENW, OPENL, and OPENZ, allowing immediate trading or holding for potential upside [6][12] - The structure of the warrants is designed to be non-dilutive at issuance, protecting current shareholders while enabling upside participation [6][12] Alignment with Shareholders - The program is intended to rebuild trust and ensure that if management succeeds, shareholders benefit directly, emphasizing a structural alignment rather than a theoretical one [2][3] - An investor FAQ will be available to address questions regarding the mechanics of the warrant distribution [9]