Snapchat parent Snap Inc. appears to be in acquisition mode.
The company said Tuesday that it is planning a private offering of $1 billion of convertible senior notes due in 2026, to qualified institutional buyers, with the initial purchasers to be granted an option to purchase an additional $150 million of notes.
The move follows last month’s strong second-quarter-2019 earnings report and the company’s stock surging past its $17-per-share March 2017 initial public offering price, also last month.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in