SentinelOne Prices At $1.25 Bln Of 0.00% Convertible Notes, Plans $150 Mln Share Buyback

SentinelOne, Inc. has announced the pricing of $1.25 billion in convertible senior notes due in 2031, with an interest rate of 0.00%. The notes will mature on October 1, 2031, and initial purchasers have the option to buy up to an additional $187.5 million during a 13-day window following the issuance. The company anticipates net proceeds of approximately $1.224 billion, or $1.408 billion if the purchaser option is exercised in full.

These funds will be allocated towards repurchasing approximately $150 million of Class A common stock, paying for capped call transactions, and utilizing the remainder for various corporate purposes. The notes can be converted at the holder's option, with an initial conversion rate of 32.0379 shares per $1,000 principal amount, equivalent to a conversion price of approximately $31.21 per share.

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