Press Release

Snap $750 Million Convertible Senior Notes Offering

May 13, 2024

Palo Alto – May 13, 2024 – Cooley advised Snap, a technology company, on its $750 million convertible senior notes offering due 2030, which includes the option for initial purchasers to purchase an additional $100 million aggregate principal amount of notes. Snap intends to use the net proceeds from the offering to repurchase a portion of its outstanding convertible senior notes due 2025 and/or convertible senior notes due 2026, for general corporate purposes – including working capital, operating expenses, capital expenditures, acquisitions of complementary businesses and other repurchases of Snap’s securities – and to pay the cost of the capped call transactions.

Partners Eric Jensen, David Peinsipp and Natalie Karam led the Cooley team advising Snap.

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