: Snap stock falls after company announces $1.25 billion convertible offering

February 8, 2022

Shares of Snap Inc. were falling in Tuesday morning trading after the social-media company disclosed that it plans a convertible-note offering.

Snap
SNAP,
-6.10%
intends to offer $1.25 billion of convertible notes due in 2028 through a private placement. The company will give initial purchasers the option to purchase up to $200 million in additional notes.

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