 SAN FRANCISCO, Aug. 05, 2021 GLOBE NEWSWIRE -- Upwork Inc. Upwork Nasdaq: UPWK today announced that it has priced 500.0 million aggregate principal amount of 0.25 convertible senior notes due 2026 the notes. The notes are to be offered and sold in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended the Securities Act. Upwork also granted the initial purchasers of the notes an option to purchase, within a 13-day period from, and including the date on which the notes are first issued, up to an additional 75.0 million aggregate principal amount of notes. The sale is expected to close on August 10, 2021, subject to customary closing conditions, and is expected to result in approximately 487.0 million in net proceeds to Upwork after deducting the initial purchasers discounts and commissions and estimated offering expenses payable by Upwork assuming no exercise of the initial purchasers option to purchase additional notes. 