---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-137315"
form_type: "8-K"
ticker: "SNAP"
cik: "0001564408"
company_name: "Snap Inc"
filed_at: "2024-05-13T23:59:59+00:00"
generated_at: "2026-06-02T02:18:39.133903+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Snap issues $750M 0.50% convertible notes due 2030, repurchases $385M of existing notes

## Summary
- Issued $650M in 0.50% Convertible Senior Notes due 2030; initial purchasers exercised $100M option for total $750M.
- Notes maturing May 1, 2030, convertible at initial rate of 45.0846 shares/$1K principal (~$22.18/share).
- Entered capped call transactions to reduce dilution, cap price $33.48/share (100% premium over $16.74 close).
- Repurchased $147.9M of 0.25% 2025 notes and $237.5M of 0.75% 2026 notes for ~$418.9M cash.
- Notes sold in private placement under Rule 144A; no registration under Securities Act.

## SEC filing metadata
- accession: 0001193125-24-137315
- form_type: 8-K
- ticker: SNAP
- cik: 0001564408
- company_name: Snap Inc
- filed_at: 2024-05-13T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1564408/000119312524137315/0001193125-24-137315-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1564408/000119312524137315/d821313d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-137315
- JSON: https://secwatch.observer/filing/0001193125-24-137315.json
- Plain text: https://secwatch.observer/filing/0001193125-24-137315.txt

## Key facts
- Debt Financings
  Snap Inc incurred convertible notes of $650.0 million with Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and BofA Securities, Inc., as representatives of the several purchasers at 0.50% per year maturing May 1, 2030.
  - Instrument: convertible notes
  - Principal: $650.0 million
  - Counterparty: Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and BofA Securities, Inc., as representatives of the several purchasers
  - Rate: 0.50% per year
  - Maturity: May 1, 2030
  - Event: incurrence
  source text: On May 8, 2024, we entered into a purchase agreement (the “Purchase Agreement”) with Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and BofA Securities, Inc., as representatives of the several purchasers named therein (collectively, the “Initial Purchasers”), relating to the sale by us of an aggregate of $650.0 million principal amount of our 0.50% Convertible Senior Notes due 2030
  evidence_url: https://www.sec.gov/Archives/edgar/data/1564408/000119312524137315/0001193125-24-137315-index.htm
- Material Agreements
  Snap Inc entered into Indenture with U.S. Bank Trust Company, National Association (effective 2024-05-13).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: U.S. Bank Trust Company, National Association
  - Effective: 2024-05-13
  source text: The Notes were issued pursuant to an Indenture, dated May 13, 2024 (the "Indenture"), between us and U.S. Bank Trust Company, National Association, as trustee ("Trustee").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1564408/000119312524137315/0001193125-24-137315-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.