PINTEREST, INC. (PINS): debt financing — Pinterest secures $1B strategic investment from Elliott; authorizes $3.5B share repurchase program

PINTEREST, INC.

Elliott invests $1B in 1.75% convertible notes due 2031; initial conversion price $22.72 per share (30% premium).
Board authorizes new $3.5B share repurchase program, replacing prior program; $473M repurchased YTD.
Pinterest enters $1B accelerated share repurchase with Goldman Sachs; expects initial delivery of ~80% of shares.
Near-term total repurchases in H1 2026 expected to be ~$2.0B including ASR, intended open-market buys, and YTD.
Marc Steinberg (Elliott partner) continues on board; Elliott subject to 2-year lock-up and standstill.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

PINTEREST, INC. incurred convertible notes of $1 billion in aggregate principal amount with Elliott Associates, L.P. and Elliott International, L.P. at 1.75% per annum maturing March 1, 2031.

Instrument: convertible notes
Principal: $1 billion in aggregate principal amount
Counterparty: Elliott Associates, L.P. and Elliott International, L.P.
Rate: 1.75% per annum
Maturity: March 1, 2031
Event: incurrence

Exact text from the filing

On March 3, 2026, Pinterest, Inc. (the “Company”) entered into an investment agreement (the “Investment Agreement”) with Elliott Associates, L.P. and Elliott International, L.P. (collectively, “Elliott”), relating to the issuance and sale to Elliott of $1 billion in aggregate principal amount of the Company’s 1.75% Convertible Senior Notes due 2031 (the “Notes”).

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Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

PINTEREST, INC. issued convertible note to Elliott Associates, L.P. and Elliott International, L.P. for $1 billion in aggregate principal amount.

Security: convertible note
Purchaser: Elliott Associates, L.P. and Elliott International, L.P.
Consideration: $1 billion in aggregate principal amount

Exact text from the filing

On March 3, 2026, the Company entered into the Investment Agreement, pursuant to which it agreed to sell $1 billion in aggregate principal amount of the Notes to Elliott.

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PINTEREST, INC. filing history →

Source: SEC EDGAR

accession 0001193125-26-086731

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