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Benzinga

Business

Adam Eckert

HISTORICAL FACTS: Why snap shares are sliding today - The Untold Story

SNAP NYSE Snap Inc

Snap Inc (NYSE:SNAP) is trading lower Tuesday morning after the company announced a proposed private offering of $1.25 billion of convertible senior notes due 2028.

Snap intends to offer the convertible senior notes in a private placement to qualified institutional buyers. Snap also intends to grant the initial purchasers of the notes an option to purchase up to an additional $200 million aggregate principal amount of notes.

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