Investment

89 الفيديو

مدة الدورة: 1 ساعة و 41 دقائق

Why Snap Shares Sliding Today

00:00:57

سعر الفيديو: 5 ریال اسبوعي

Snap ($SNAP@US) is trading lower this morning after the company announced a proposed private offering of $1.25 billion of convertible senior notes due 2028. Snap intends to offer the convertible senior notes to qualified institutional buyers in a private placement. The company also intends to grant the initial purchasers of the notes an option to buy up to an additional $200 million aggregate principal amount of notes. Snap said it plans to enter into capped call transactions with one or more of the initial purchasers of the notes. The capped call transactions will cover the number of Snap shares that will initially underlie the notes, which is expected to reduce potential dilution to shareholders. Snap intends to use the net proceeds from the offering for general corporate purposes and to pay the cost of the capped call transactions. Snap has traded as low as around $24 and as high as more than $83 over a 52-week period. The stock was down more than 4% at $36.22 this morning.

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