Blog: OPENDOOR TECHNOLOGIES INC. : Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K) –

Item 7.01. Regulation FD Disclosure.

On August 1, 2022, Opendoor Technologies Inc. (the “Company”) issued a statement
regarding the Company’s comprehensive settlement agreement with the U.S. Federal
Trade Commission (FTC) (the “Press Release”). The settlement is subject to final
approval by the FTC and includes a payment of $62 million, which the Company
expects to disburse in the second half of 2022. The Company recorded an
incremental legal contingency accrual of $41 million, bringing the total accrual
balance to $62 million as of June 30, 2022. A copy of the Press Release is
furnished as Exhibit 99.1 to this Current Report on Form 8-K.

This Current Report on Form 8-K contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995, as
amended. All statements contained herein that do not relate to matters of
historical fact should be considered forward-looking, including statements
regarding the Company’s anticipated financial performance and final settlement
with the FTC. Forward-looking statements are predictions, projections and other
statements about future events that are based on current expectations and
assumptions and, as a result, are subject to risks and uncertainties. Many
important factors could cause actual future events to differ materially from the
forward-looking statements in this Current Report on Form 8-K, including but not
limited to various factors relating to the Company’s business, operations and
financial performance and the certainty of the FTC’s final approval of the
settlement. The foregoing list of factors is not exhaustive. You should
carefully consider the foregoing factors and the other risks and uncertainties
described under the caption “Risk Factors” in the Company’s most recent Annual
Report on Form 10-K filed with the Securities and Exchange Commission (the
“SEC”) on February 24, 2022, as updated by the Company’s other filings with the
SEC. These filings identify and address other important risks and uncertainties
that could cause actual events and results to differ materially from those
contained in the forward-looking statements. Forward-looking statements speak
only as of the date they are made. Readers are cautioned not to put undue
reliance on forward-looking statements, and the Company assumes no obligation
and does not intend to update or revise these forward-looking statements,
whether as a result of new information, future events, or otherwise. The Company
does not give any assurance that it will achieve these expectations.

The information contained in Item 7.01 of this Current Report on Form 8-K
(including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18
of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or
otherwise subject to the liabilities of that section, nor shall it be deemed
incorporated by reference in any filing under the Securities Act of 1933, as
amended, or the Exchange Act, except as shall be expressly set forth by specific
reference in such a filing.

Item 9.01.Financial Statements and Exhibits.


Exhibit No.               Description

99.1                        Press Release issued by Opendoor Technologies Inc. on     August 1    ,
104                       Cover Page Interactive Data File (Cover page XBRL tags are embedded within
                          the Inline XBRL document)



© Edgar Online, source Glimpses

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s