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Snowflake | 8-K: Snowflake Prices Private Placement of $2.0 Billion of Convertible Senior Notes

Snowflake | 8-K: Snowflake Prices Private Placement of $2.0 Billion of Convertible Senior Notes

Snowflake | 8-K：Snowflake为私募20亿美元可转换优先票据定价
美股SEC公告 ·  2024/09/28 05:15

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Snowflake has completed a private offering of $2.3 billion in convertible senior notes, comprising $1.15 billion each of 2027 and 2029 notes. The zero-interest notes will mature on October 1, 2027, and October 1, 2029, respectively, with initial conversion prices set at $157.50 per share for both series.The company secured net proceeds of approximately $2.27 billion from the offering. The funds will be allocated to multiple strategic initiatives: $195.5 million for capped call transactions, $400 million for share repurchases from note purchasers at $112.50 per share, and the remainder for general corporate purposes including potential future stock repurchases and strategic investments.To manage potential dilution, Snowflake entered into capped call transactions with a cap price of $225.00 per share, representing a 100% premium over the stock's last reported price. The notes are convertible under specific conditions, with the company having the flexibility to settle conversions in cash, shares, or a combination thereof.
Snowflake has completed a private offering of $2.3 billion in convertible senior notes, comprising $1.15 billion each of 2027 and 2029 notes. The zero-interest notes will mature on October 1, 2027, and October 1, 2029, respectively, with initial conversion prices set at $157.50 per share for both series.The company secured net proceeds of approximately $2.27 billion from the offering. The funds will be allocated to multiple strategic initiatives: $195.5 million for capped call transactions, $400 million for share repurchases from note purchasers at $112.50 per share, and the remainder for general corporate purposes including potential future stock repurchases and strategic investments.To manage potential dilution, Snowflake entered into capped call transactions with a cap price of $225.00 per share, representing a 100% premium over the stock's last reported price. The notes are convertible under specific conditions, with the company having the flexibility to settle conversions in cash, shares, or a combination thereof.
Snowflake完成了一项23亿美元的可转换高级票据私人发行，其中2027年和2029年的票据各为11.5亿美元。这些零息票据将分别于2027年10月1日和2029年10月1日到期，初始转换价格设定为每股157.50美元。该公司从此次发行中获得了约22.7亿美元的净收益。这些资金将用于多项战略计划：19550万美元用于看涨交易，40000万美元用于以每股112.50美元从票据购买者手中回购股票，其余用于一般企业用途，包括潜在的未来股票回购和战略投资。为了管理潜在的稀释，Snowflake与一项以每股225.00美元的上限价格达成了看涨交易，代表着相对于该股票最近报告价格的100%溢价。该票据在特定条件下可转换，公司可以灵活地以现金、股票或二者的组合来结算转换。
Snowflake完成了一项23亿美元的可转换高级票据私人发行，其中2027年和2029年的票据各为11.5亿美元。这些零息票据将分别于2027年10月1日和2029年10月1日到期，初始转换价格设定为每股157.50美元。该公司从此次发行中获得了约22.7亿美元的净收益。这些资金将用于多项战略计划：19550万美元用于看涨交易，40000万美元用于以每股112.50美元从票据购买者手中回购股票，其余用于一般企业用途，包括潜在的未来股票回购和战略投资。为了管理潜在的稀释，Snowflake与一项以每股225.00美元的上限价格达成了看涨交易，代表着相对于该股票最近报告价格的100%溢价。该票据在特定条件下可转换，公司可以灵活地以现金、股票或二者的组合来结算转换。
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