Snowflake Prices Upsized Private Placement of $3.75 Billion of 0.00% Convertible Senior Notes
Key Highlights
- ➤Snowflake (SNOW) prices $3.75 billion of 0.00% convertible notes due 2029 and 2031
- ➤$3.75 billion offering upsized from previously announced $3.5 billion
- ➤Snowflake estimates approximately $3.70 billion net proceeds from the offering
- ➤Snowflake plans $548.3 million repurchase of approximately $261.8 million 2027 notes
- ➤Conversion prices set at approximately $500.38 for 2029 notes and $483.98 for 2031 notes
Snowflake Prices Upsized Private Placement of $3.75 Billion of 0.00% Convertible Senior Notes
Snowflake Inc. (NYSE: SNOW) (“Snowflake”), the AI Data Cloud Company, today announced the pricing of $2.0 billion aggregate principal amount of its 0.00% Convertible Senior Notes due 2029 (the “2029 notes”) and $1.75 billion aggregate principal amount of its 0.00% Convertible Senior Notes due 2031 (the “2031 notes,” and together with the 2029 notes, 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”). The aggregate principal amount of the offering was upsized from the previously announced offering size of $3.5 billion aggregate principal amount of Notes.
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