Financing ·
Completes $1.25B offering of 0.00% Convertible Senior Notes due 2031
SSentinelOne, Inc.
SentinelOne completed its private offering of $1,250,000,000 aggregate principal amount of 0.00% Convertible Senior Notes due October 1, 2031, including the full exercise of the initial purchasers' option to purchase an additional $187,500,000 in notes. The notes are general senior unsecured obligations with an initial conversion price of approximately $31.21 per share, representing a 30% premium over the October 13 closing stock price of $24.01. Net proceeds were approximately $1,408 million after deducting discounts and offering expenses. The company used approximately $151.4 million to pay for capped call transactions intended to offset potential dilution and repurchase approximately 6.2 million shares of common stock for about $150.0 million concurrently with the pricing. SentinelOne operates in the cybersecurity industry, providing autonomous endpoint protection software.