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Snap Inc. (NYSE:SNAP) announced today the pricing of $650 million aggregate principal amount of 0.50% convertible senior notes due 2030 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, or the Securities Act. Snap also granted the initial purchasers of the notes an option to purchase up to an additional $100 million aggregate principal amount of notes. The sale of the notes is expected to close on May 13, 2024, subject to customary closing conditions.
The notes will be general unsecured obligations of Snap, and interest of 0.50% per year will be payable semiannually in arrears on May 1 and November 1 of each year, beginning on November 1, 2024.
Posted In: SNAP
