EMAIL DETAILS

The investment Goldman may have made in lieu of Metabiota…..


Eric D. Schwerin
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
eschwerin@rosemontseneca.com <x-msg://59/eschwerin@obblaw.com>
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> http://techcrunch.com/2015/01/21/uber-another-1-6b/ <http://techcrunch.com/2015/01/21/uber-another-1-6b/>
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> Uber Closes On Another $1.6 Billion In Convertible Debt From Goldman Sachs
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> It’s hard to believe, but ride-hailing company Uber <http://www.uber.com/> has closed on even more financing to expand its operations around the world. Fast on the heels of raising $1.2 billion in equity financing, the company brought on $1.6 billion in convertible debt from Goldman Sachs, a person with knowledge of the deal has confirmed.
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> Last summer, Uber raised $1.4 billion in Series D funding <http://techcrunch.com/2014/06/06/uber-1-2b/> that valued it at $17 billion. Six months later, that valuation more than doubled to $40 billion, as it brought on an additional $1.2 billion <http://techcrunch.com/2014/12/04/uber-confirms-new-1-2b-funding-round-looks-to-asia-for-expansion/>. That Series E round had an additional $600 million available for strategic investors and hedge funds to invest.
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> Prior to the announcement of that round, we reported Uber was raising a bunch of convertible debt <http://techcrunch.com/2014/11/08/uber-mo-money/>, and it looks like that deal has been finalized. As first reported by Bloomberg <http://www.bloomberg.com/news/2015-01-21/uber-said-to-raise-1-6-billion-in-convertible-debt-to-expand.html>, the $1.6 billion in debt financing came from Goldman Sachs wealth management clients. Bloomberg noted that the financing would be in the form of a six-year bond that will convert into equity at a 20-30 percent discount to Uber’s valuation at the time of an IPO.
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> This brings the total amount of funding Uber has raised to more than $4 billion since being founded in 2010