Rubrik Announces $1 Bln Offering Of Convertible Senior Notes, Stock Down In Pre-Market

(RTTNews) - Rubrik, Inc. (RBRK), Tuesday announced its decision to offer $1 billion aggregate principal amount of Convertible Senior Notes due 2030 in a private placement.

Additionally, the company intends to grant the initial purchasers of the notes an option to purchase notes upto an additional $150 million.

The notes, set to mature on June 15, 2030, will allow holders to receive cash, shares of Rubrik's Class A common stock, par value $0.000025 per share or a combination of cash and shares of Class A common stock.

The California-based company expects to use the proceeds to pay the cost of the capped call transactions, to repay in full the $327.9 million outstanding loans, and for other general corporate purposes.

In the pre-market hours, Rubrik's stock is moving down 4.53 percent, to $88.94 on the New York Stock Exchange.