# EDGAR Filing Document

**Accession Number:** 0001801169
**File Stem:** 0001140361-25-040825
**Filing Date:** 2025-11
**Character Count:** 34311
**Document Hash:** 104644a9f290370d7f9784323401b09d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-25-040825.hdr.sgml**: 20251106

**ACCESSION NUMBER**: 0001140361-25-040825

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 15

**FILED AS OF DATE**: 20251106

**DATE AS OF CHANGE**: 20251106

**EFFECTIVENESS DATE**: 20251106

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Opendoor Technologies Inc.
- **CENTRAL INDEX KEY:** 0001801169
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE AGENTS & MANAGERS (FOR OTHERS) [6531]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 301318214
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-291340
- **FILM NUMBER:** 251459633

**BUSINESS ADDRESS:**
- **STREET 1:** 410 N. SCOTTSDALE ROAD, SUITE 1000
- **CITY:** TEMPE
- **STATE:** AZ
- **ZIP:** 85288
- **BUSINESS PHONE:** 480-618-6760

**MAIL ADDRESS:**
- **STREET 1:** 410 N. SCOTTSDALE ROAD, SUITE 1000
- **CITY:** TEMPE
- **STATE:** AZ
- **ZIP:** 85288

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Social Capital Hedosophia Holdings Corp. II
- **DATE OF NAME CHANGE:** 20200124

#### As filed with the Securities and Exchange Commission on November 6, 2025

#### Registration No. 333-

#### UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION <br> Washington, D.C. 20549

#### <br>

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#### FORM S-8 <br> REGISTRATION STATEMENT<br> Under <br> THE SECURITIES ACT OF 1933<br>

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#### OPENDOOR TECHNOLOGIES INC. <br> (Exact Name of Registrant as Specified in its Charter)

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| | |
|:---|:---|
| **Delaware<br> (State or other jurisdiction of incorporation or organization)** | **30-1318214<br> (I.R.S. Employer Identification No.)** |

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| | |
|:---|:---|
| **410 N. Scottsdale Road, Suite 1000<br> Tempe, AZ<br> (Address of principal executive offices)** | **85288<br> (Zip Code)** |

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#### <br>

#### OPENDOOR TECHNOLOGIES INC. 2020 INCENTIVE AWARD PLAN<br> OPENDOOR TECHNOLOGIES INC. 2020 EMPLOYEE STOCK PURCHASE PLAN<br> (Full title of the plan)
**Kaz Nejatian<br> Chief Executive Officer<br> 410 N. Scottsdale Road, Suite 1000<br> Tempe, AZ 85288<br> (Name and address of agent for service)<br> (480) 618-6760<br> (Telephone number, including area code, of agent for service)**

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| | |
|:---|:---|
| **Phillip S. Stoup<br> Freshfields US LLP<br> 1 Bush Street, 17<sup>th</sup> Floor<br> San Francisco, CA 94104<br> (415) 400-2199** | **Sydney Schaub<br> Chief Legal Officer<br> Opendoor Technologies Inc.<br> 410 N. Scottsdale Road, Suite 1000<br> Tempe, AZ 85288<br> (480) 618-6760** |

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Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☒ Accelerated filer ☐ <br> Non-accelerated filer ☐ Smaller reporting company ☐ <br> Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

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#### EXPLANATORY NOTE
This Registration Statement on Form S-8 (this "**Registration Statement**") is being filed, pursuant to General Instruction E of Form S-8, by Opendoor Technologies Inc. (the "**Company**") to register an additional 124,223,120 shares of the Company's common stock, par value $0.0001 per share (the "**Common Stock**"), issuable under the Opendoor Technologies Inc. 2020 Incentive Award Plan (the "**Incentive Award Plan**") and an additional 13,975,338 shares of Common Stock issuable under the Opendoor Technologies Inc. 2020 Employee Stock Purchase Plan (the "**ESPP**"), each pursuant to the respective provisions of the Incentive Award Plan and the ESPP providing for annual automatic increases in the number of shares of Common Stock reserved for issuance. These additional shares of Common Stock are securities of the same class as other securities for which original Registration Statements on Form S-8 relating to the same benefit plans were filed with the Securities and Exchange Commission (the "**SEC**") on [March 8, 2021](https://www.sec.gov/Archives/edgar/data/1801169/000110465921033320/tm218825d1_s8.htm) (File No. 333-253993) (the "**2021 Form S-8**") and [May 4, 2023](https://www.sec.gov/Archives/edgar/data/1801169/000119312523136104/d488211ds8.htm) (File No. 333-271657) (the "**2023 Form S-8**"). Pursuant to General Instruction E of Form S-8, the contents of the 2021 Form S-8 and 2023 Form S-8 are incorporated by reference herein.

In accordance with the instructional note to Part I of Form S-8 as promulgated by the SEC, the information specified by Part I of the Form S-8 has been omitted from this Registration Statement.

#### PART II<br> INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

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| | |
|:---|:---|
| **Item 3.** | **Incorporation of Documents by Reference.** |

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The following documents, which have been filed by the Company with the SEC pursuant to the Securities Exchange Act of 1934, as amended (the "**Exchange Act**"), are incorporated by reference in, and shall be deemed to be a part of, this Registration Statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the Company's Annual Report on [Form 10-K](https://www.sec.gov/ix?doc=/Archives/edgar/data/1801169/000180116925000017/open-20241231.htm) for the year ended December 31, 2024, filed with the SEC on February 27, 2025 (File No. 001-39253);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the Company's Quarterly Report on [Form 10-Q](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001801169/000180116925000038/open-20250331.htm) for the quarter ended March 31, 2025, filed with the SEC on May 6, 2025 (File No. 001-39253), the Company's Quarterly Report on [Form 10-Q](https://www.sec.gov/ix?doc=/Archives/edgar/data/1801169/000180116925000074/open-20250630.htm) for the quarter ended June 30, 2025, filed with the SEC on August 5, 2025 (File No. 001-39253) and the Company's Quarterly Report on [Form 10-Q](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001801169/000180116925000092/open-20250930.htm) for the quarter ended September 30, 2025, filed with the SEC on November 6, 2025 (File No. 001-39253);

(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the Company's Current Reports on Form 8-K (File No. 001-39253) filed on [May 9, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/1801169/000114036125018030/ef20048700_8k.htm); [May 19, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/1801169/000114036125019770/ef20049190_8k.htm); [May 30, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/1801169/000180116925000042/open-20250528.htm); [June 17, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/1801169/000180116925000044/open-20250613.htm); [August 1, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/1801169/000180116925000069/open-20250731.htm); [August 15, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/1801169/000114036125031416/ef20054058_8k.htm); [August 28, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/1801169/000114036125033195/ef20054807_8ka.htm), [September 11, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/1801169/000114036125034609/ef20055426_8k.htm), [September 17, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001801169/000180116925000082/open-20250916.htm), [September 19, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001801169/000114036125035480/ef20055829_8k.htm), [October 1, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001801169/000180116925000086/open-20251001.htm) and [November 6, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001801169/000114036125040804/ny20058304x2_8k.htm); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the description of the Company's shares of Common Stock contained in the Company's Registration Statement on [Form 8-A](https://www.sec.gov/Archives/edgar/data/1801169/000110465920137261/tm2038661d3_8a12b.htm) (File No. 001- 39253), filed with the SEC on December 18, 2020, including any amendments or reports filed for the purpose of updating such description (including [Exhibit 4.6](https://www.sec.gov/Archives/edgar/data/1801169/000180116925000017/a2024ex46descriptionofcapi.htm) to the Form 10-K filed on February 27, 2025).

All reports and other documents filed by the Company with the SEC pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act after the date hereof and prior to the filing of a post-effective amendment which indicates that all securities offered pursuant to this Registration Statement have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be a part hereof from the date of filing of such documents or reports.

For purposes of this Registration Statement, any document or any statement contained in a document incorporated or deemed to be incorporated herein by reference shall be deemed to be modified or superseded to the extent that a subsequently filed document or a statement contained therein, or in any other subsequently filed document which also is or is deemed to be incorporated by reference, modifies or supersedes such document or such statement in such document. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

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Under no circumstances shall any information furnished under Item 2.02 or 7.01 of Form 8-K be deemed incorporated herein by reference unless such Form 8-K expressly provides to the contrary.

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| | |
|:---|:---|
| **Item 6.** | **Indemnification of Directors and Officers.** |

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Subsection (a) of Section 145 of the General Corporation Law of the State of Delaware (the "**DGCL**") empowers a corporation to indemnify any person who was or is a party or who is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation) by reason of the fact that the person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by the person in connection with such action, suit or proceeding if the person acted in good faith and in a manner the person reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe the person's conduct was unlawful.

Subsection (b) of Section 145 empowers a corporation to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that the person acted in any of the capacities set forth above, against expenses (including attorneys' fees) actually and reasonably incurred by the person in connection with the defense or settlement of such action or suit if the person acted in good faith and in a manner the person reasonably believed to be in or not opposed to the best interests of the corporation, except that no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable to the corporation unless and only to the extent that the Court of Chancery or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such other court shall deem proper.

Section 145 further provides that to the extent a director or officer of a corporation has been successful on the merits or otherwise in the defense of any action, suit or proceeding referred to in subsections (a) and (b) of Section 145, or in defense of any claim, issue or matter therein, such person shall be indemnified against expenses (including attorneys' fees) actually and reasonably incurred by such person in connection therewith; that indemnification provided for by Section 145 shall not be deemed exclusive of any other rights to which the indemnified party may be entitled; and the indemnification provided for by Section 145 shall, unless otherwise provided when authorized or ratified, continue as to a person who has ceased to be a director, officer, employee or agent and shall inure to the benefit of such person's heirs, executors and administrators. Section 145 also empowers the corporation to purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against any liability asserted against such person and incurred by such person in any such capacity, or arising out of his status as such, whether or not the corporation would have the power to indemnify such person against such liabilities under Section 145.

Section 102(b)(7) of the DGCL provides that a corporation's certificate of incorporation may contain a provision eliminating or limiting the personal liability of a director or officer to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director or officer, provided that such provision shall not eliminate or limit the liability of a director or officer (i) for any breach of the director's or officer's duty of loyalty to the corporation or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) under Section 174 of the DGCL, (iv) for any transaction from which the director derived an improper personal benefit, or (v) for an officer in any action by or in the right of the corporation.

Additionally, our certificate of incorporation limits the liability of our directors to the fullest extent permitted by the DGCL, and our certificate of incorporation and bylaws provide that we will indemnify our directors and officers to the fullest extent permitted by such law. We have entered into and expect to continue to enter into agreements to indemnify our directors, executive officers and other employees as determined by our board of directors. Under the terms of such indemnification agreements, we are required to indemnify each of our directors and officers, to the fullest extent permitted by the laws of the state of Delaware, if the basis of the indemnitee's involvement was by reason of the fact that the indemnitee is or was our director or officer or was serving at our request in an official capacity for another entity.

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We must indemnify our officers and directors against all reasonable fees, expenses, charges and other costs of any type or nature whatsoever, including any and all expenses and obligations paid or incurred in connection with investigating, defending, being a witness in, participating in (including on appeal), or preparing to defend, be a witness or participate in any completed, actual, pending or threatened action, suit, claim or proceeding, whether civil, criminal, administrative or investigative, or establishing or enforcing a right to indemnification under the indemnification agreement. The indemnification agreements also require us, if so requested, to advance all reasonable fees, expenses, charges and other costs that such director or officer incurred, provided that such person will return any such advance if it is ultimately determined that such person is not entitled to indemnification by us. Any claims for indemnification by our directors and officers may reduce our available funds to satisfy successful third-party claims against us and may reduce the amount of money available to us.

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| | |
|:---|:---|
| **Item 8.** | **Exhibits.** |

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The following documents are filed as exhibits to this Registration Statement:

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| | |
|:---|:---|
| Exhibit Numbers | Description of Exhibit |
| 4.1 | [Certificate of Incorporation of Opendoor Technologies Inc. (incorporated by reference to Exhibit 3.1 to the Current Report on Form 8-K (File No. 001-39253) filed on December 18, 2020).](https://www.sec.gov/Archives/edgar/data/1801169/000110465920137517/tm2038661d2_ex3-1.htm) |
| 4.2 | [Amended and Restated Bylaws of Opendoor Technologies Inc. (incorporated by reference to Exhibit 3.1 to the Current Report on Form 8-K (File No. 001-39253) filed on January 24, 2023).](https://www.sec.gov/Archives/edgar/data/1801169/000119312523013575/d386352dex31.htm) |
| 4.3 | [Specimen Common Stock Certificate of Opendoor Technologies Inc. (incorporated by reference to Exhibit 4.5 to Amendment No. 1 to the Registration Statement on Form S-4 (File No. 333-249302) filed on November 6, 2020).](https://www.sec.gov/Archives/edgar/data/1801169/000110465920122215/tm2030455d5_ex4-5.htm) |
|  5.1\* | [Opinion of Freshfields US LLP.](ef20058344_ex5-1.htm) |
|  23.1\* | [Consent of independent registered public accounting firm (Deloitte & Touche LLP).](ef20058344_ex23-1.htm) |
|  23.2\* | [Consent of Freshfields US LLP (included in Exhibit 5.1).](ef20058344_ex5-1.htm) |
|  24.1\* | [Power of Attorney (included on the signature page of the Registration Statement).](#POWEROFATTORNEY) |
| 99.1 | [Opendoor Technologies Inc. 2020 Incentive Award Plan (incorporated by reference to Exhibit 10.3 to the Current Report on Form 8-K (File No. 001-39253) filed on December 18, 2020).](https://www.sec.gov/Archives/edgar/data/1801169/000110465920137517/tm2038661d2_ex10-3.htm) |
| 99.2 | [Opendoor Technologies Inc. 2020 Employee Stock Purchase Plan (effective as of February 8, 2023) (incorporated by reference to Exhibit 10.15 to the Annual Report on Form 10-K (File No. 001-39253) filed on February 23, 2023).](https://www.sec.gov/Archives/edgar/data/1801169/000180116923000024/a2022ex1015opendoorx2020em.htm) |
|  107\* | Filing Fee Table. |

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\* Filed herewith

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| | |
|:---|:---|
| **Item 9.**  | **Undertakings.** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp; The undersigned Company hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)&nbsp;&nbsp;&nbsp;&nbsp; To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;

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(ii)&nbsp;&nbsp;&nbsp;&nbsp; To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp; To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement;

*provided, however*, that (A) paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not apply if the registration statement is on Form S-8, and the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed by or furnished to the SEC by the Company pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp; That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)&nbsp;&nbsp;&nbsp;&nbsp; To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp; The undersigned Company hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Company's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered herein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp; Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Company pursuant to the foregoing provisions, or otherwise, the Company has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Company of expenses incurred or paid by a director, officer or controlling person of the Company in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Company will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

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#### SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Tempe, State of Arizona, on November 6, 2025.

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| | |
|:---|:---|
| **opendoor technologies inc.** | **opendoor technologies inc.** |
| By:  | /s/ Kaz Nejatian |
|  | Name: Kaz Nejatian |
|  | Title: Chief Executive Officer |

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#### POWER OF ATTORNEY
Each person whose signature appears below constitutes and appoints each of Kaz Najatian and Christina Schwartz, acting alone or together with another attorney-in-fact, as his or her true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for such person and in his or her name, place and stead, and in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the SEC, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite or necessary to be done in and about the premises, as fully and to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent, or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the date indicated.

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| | | |
|:---|:---|:---|
| **SIGNATURE** | **TITLE** | **Date** |
| /s/ Kaz Nejatian | Chief Executive Officer and Director | November 6, 2025 |
| Kaz Nejatian | *(Principal Executive Officer)* |  |
| /s/ Christina Schwartz | Interim Chief Financial Officer<br>| November 6, 2025 |
| Christina Schwartz | (*Principal Financial and Accounting Officer*) |  |
| /s/ Keith Rabois | Director, Chairman | November 6, 2025 |
| Keith Rabois |  |  |
| /s/ Eric Feder | Director, Lead Independent Director | November 6, 2025 |
| Eric Feder |  |  |
| /s/ Adam Bain | Director | November 6, 2025 |
| Adam Bain |  |  |
| /s/ David Benson | Director | November 6, 2025 |
| David Benson |  |  |
| /s/ Dana Hamilton | Director | November 6, 2025 |
| Dana Hamilton |  |  |
| /s/ Eric Wu | Director | November 6, 2025 |
| Eric Wu |  |  |

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## Exhibit 5.1

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**Exhibit 5.1**<br>

![](image1.jpg)

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| |
|:---|
| **San Francisco** |
| 1 Bush Street, 17<sup>th</sup> Floor<br>|
| San Francisco, CA 94104 |
| **T** +1 (415) 400-2200 |
| **freshfields.us** |

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November 6, 2025 <br> Opendoor Technologies Inc. 410 N. Scottsdale Road, Suite 1000 Tempe, AZ 85288

Ladies and Gentlemen:

Opendoor Technologies Inc., a Delaware corporation (the ***"Company"***), has filed with the Securities and Exchange Commission a Registration Statement on Form S-8 (the "***Registration Statement***") for the purpose of registering under the Securities Act of 1933, as amended (the ***"Securities Act***"), a total of 138,198,458 shares of its common stock, par value $0.0001 per share (the ***"Securities"***), to be issued under the Opendoor Technologies Inc. 2020 Incentive Award Plan (the "***Incentive Award Plan***") and the Opendoor Technologies Inc. 2020 Employee Stock Purchase Plan (the "***ESPP***" and together with the Incentive Award Plan, the "***Plans***"), respectively.

We, as your counsel, have examined originals or copies of such documents, corporate records, certificates of public officials and other instruments as we have deemed necessary or advisable for the purpose of rendering this opinion.

In rendering the opinion expressed herein, we have, without independent inquiry or investigation, assumed that (i) all documents submitted to us as originals are authentic and complete, (ii) all documents submitted to us as copies conform to authentic, complete originals, (iii) all signatures on all documents that we reviewed are genuine, (iv) all natural persons executing documents had and have the legal capacity to do so, (v) all statements in certificates of public officials and officers of the Company that we reviewed were and are accurate and (vi) all representations made by the Company as to matters of fact in the documents that we reviewed were and are accurate.

Based upon the foregoing, and subject to the additional assumptions and qualifications set forth below, we advise you that, in our opinion, as of the date hereof, the Securities have been duly authorized and, when and to the extent issued, delivered and paid for in accordance with the Plans, the Securities will be validly issued, fully paid and non-assessable.

We are members of the Bar of the State of California and the foregoing opinion is limited to the General Corporation Law of the State of Delaware.

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We hereby consent to the filing of this opinion as an exhibit to the Registration Statement. In giving this consent, we do not admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act.

Very truly yours,

/s/ Freshfields US LLP

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## Exhibit 23.1

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#### Exhibit 23.1

#### CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We consent to the incorporation by reference in this Registration Statement on Form S-8 of our reports dated February 27, 2025 relating to the consolidated financial statements of Opendoor Technologies Inc. and the effectiveness of Opendoor Technologies Inc.'s internal control over financial reporting, appearing in the Annual Report on Form 10-K of Opendoor Technologies Inc. for the year ended December 31, 2024.

/s/ Deloitte & Touche LLP

San Francisco, California

November 6, 2025

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## Ex-Filing

?xml version='1.0' encoding='ASCII'?

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**Exhibit 107**

**Calculation of Filing Fee Tables**

**Form S-8**

(Form Type)

**Opendoor Technologies Inc.**

(Exact name of registrant as specified in its charter)

**<u>Table 1- Newly Registered Securities</u>**

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| | | | | |
|:---|:---|:---|:---|:---|
| **Security Type** | **Security Class Title** | **Maximum Aggregate<br>Offering Price** | **Fee Rate** | &nbsp;&nbsp; **Amount of Registration Fee** |
| Equity | Common stock, par value $0.0001 per share, Opendoor Technologies Inc. 2020 Incentive Award Plan<br> Other<sup>(2)</sup>124223120<sup>(3)</sup>$7.12<sup>(2)</sup> | $884468614.40 | 0.00013810 | $122145.12 |
| Equity | Common stock, par value $0.0001 per share, Opendoor Technologies Inc. 2020 Employee Stock Purchase Plan Other<sup>(4)</sup>13975338<sup>(5)</sup>$6.052<sup>(4)</sup> | $84578745.58<sup>(4)</sup> | 0.00013810 | $11680.33 |
| **Total Offering Amounts** | **Total Offering Amounts** | $969047359.98 |  | $133825.45 |
| **Total Fee Offsets** | **Total Fee Offsets** |  |  |  |
| **Net Fee Due** | **Net Fee Due** |  |  | $133825.45 |

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(1) Pursuant to Rule 416(a) promulgated under the
Securities Act of 1933, as amended (the "Securities Act"), this registration
statement on Form S-8 (this "Registration Statement") shall also
cover any additional shares of common stock, par value $0.0001 per share ("Common
Stock"), of Opendoor Technologies Inc. (the "Company") that become issuable
under the Company's 2020 Incentive Award Plan (the "Incentive Plan") or the
Company's 2020 Employee Stock Purchase Plan (the "ESPP") by reason of any stock
dividend, stock split, recapitalization or other similar transaction effected
without receipt of consideration that increases the number of outstanding
shares of Common Stock.

(2) Estimated solely for purposes
of calculating the registration fee pursuant to
Rules 457(c) and 457(h) of the Securities Act, the
proposed maximum offering price per share and proposed maximum aggregate
offering price are based upon the average of the high and low prices of the
Company's shares of Common Stock as reported on the Nasdaq Global Select Market
on November 4, 2025, which date is within five business days prior to the
filing of this Registration Statement.

(3) Represents shares of Common Stock available for
future issuance as a result of the annual automatic increases under the
Incentive Plan pursuant to its terms.

(4) Estimated in accordance with Rule 457(c) and
(h) under the Securities Act. The offering price per share and the
aggregate offering price are calculated based on 85% of the average of the high
and low sale prices per share of the Common Stock as reported on the Nasdaq
Global Select Market on November 4, 2025. Pursuant to the ESPP, the purchase
price of the shares of Common Stock reserved for issuance thereunder will be
85% of the lower of the fair market value of the Common Stock on (i) the
applicable offer period start date and (ii) the applicable purchase date.

(5) Represents 6,775,437 and 7,199,901 additional
shares of Common Stock available for issuance as a result of the annual
automatic increase on January 1, 2024 and January 1, 2025, respectively under
the ESPP.

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