Snap (SNAP) has released an update.
On February 12, 2024, we engaged in repurchase agreements to buy back $100.0 million of our 2025 Convertible Senior Notes and $351.2 million of our 2026 Convertible Senior Notes at slightly below their principal amounts, inclusive of accrued interest. The final prices are adjustable based on our Class A common stock’s average price during a certain period, with the transactions expected to conclude by February 14, 2024. This is part of a strategic financial move to manage our debt and is not an offer to sell or solicit securities.
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