SentinelOne Announces Proposed Private Placement of $1.25 Billion of Convertible Senior Notes Due 2031
Key Highlights
- ➤SentinelOne (S) proposes $1.25 billion of 0.00% convertible senior notes due 2031
- ➤Initial purchasers can buy an additional $187.5 million of notes
- ➤Proceeds include up to $150.0 million of concurrent Class A share repurchases
- ➤Capped calls target reduced conversion dilution, with cap price at least 100% above stock price
- ➤SentinelOne is discussing a $400 million secured revolving credit facility
SentinelOne Announces Proposed Private Placement of $1.25 Billion of Convertible Senior Notes Due 2031
SentinelOne, Inc. (NYSE: S) (“SentinelOne”) today announced that it intends to offer, subject to market conditions and other factors, $1.25 billion aggregate principal amount of 0.00% Convertible Senior Notes due 2031 (the “notes”) in a private placement (the “offering”) to persons reasonably believed to be “qualified institutional buyers” pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). SentinelOne also intends to grant the initial purchasers of the notes an option to purchase, for settlement during a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $187.5 million aggregate principal amount of the notes.
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