CART · DoorDash filed this Rule 425 communication in connection with its…

DoorDash filed this Rule 425 communication in connection with its pending acquisition of Instacart for $65.00 per share in a cash-and-stock deal valued at approximately $17 billion equity value. The filing contains standard forward-looking statements and regulatory disclosures, confirming the deal terms and expected timeline (late 2027 or first half 2028). No new financial information, revised terms, or opposition is disclosed.

• DoorDash will acquire Instacart for $65.00 per share in a cash-and-stock deal valued at approximately $17 billion equity value.
• Aggregate consideration is at least 75% cash, with stockholders able to elect cash, DoorDash stock, or a mix, subject to a cap on stock consideration at 25% of total.
• Transaction expected to close in late 2027 or first half 2028, subject to regulatory approvals, stockholder vote, and other customary conditions.
• Major stockholders D1 Capital Partners and Sequoia Capital, holding about 19% of Instacart's outstanding shares, have agreed to vote in favor.