Snowflake Announces Upsized $3.75 Billion Convertible Senior Notes
Palo Alto – September 29, 2026 – Cooley advised Snowflake (New York Stock Exchange: SNOW), the AI data cloud company, on its upsized private placement of $3.75 billion aggregate principal amount of convertible senior notes, consisting of $2 billion aggregate principal amount of 0% convertible senior notes due 2029 (2029 notes) and $1.75 billion aggregate principal amount of 0% convertible senior notes due 2031 (2031 notes). Snowflake also granted the initial purchasers of the notes options to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $300 million aggregate principal amount of the 2029 notes and up to an additional $250 million aggregate principal amount of the 2031 notes.
Lawyers Jon Avina, Milson Yu, Mischi a Marca, Jason Savich, Kate Nichols, Timothy Nguyen, Shimeng Cheng, Samara Zaifman, Jayne Munger, Julia Gage, Maragret Barreto and Tucker Cochenour led the Cooley team advising Snowflake. Eileen Marshall, Timothy Shapiro and Calvin Lee provided tax support.
Cooley previously advised Snowflake on its $2.3 billion convertible senior notes offering in 2024 and $3.9 billion initial public offering in 2020.
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