---
schema_version: "secwatch.filing_event.v1"
accession: "0001467623-25-000123"
form_type: "8-K"
ticker: "DBX"
cik: "0001467623"
company_name: "DROPBOX, INC."
filed_at: "2025-09-09T23:59:59+00:00"
generated_at: "2026-05-17T07:17:09.533918+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Dropbox adds $700M delayed draw term loans for 2026 notes; authorizes $1.5B buyback

## Summary
- Amended credit agreement provides up to $700M in additional delayed draw term loans; total facility now $2.7B.
- Proceeds may only be used to repay convertible senior notes due 2026.
- New share repurchase authorization for up to $1.5B of Class A common stock.
- Loans bear interest at SOFR+3.75% or base rate+2.75%; maturity September 9, 2030.
- Blackstone Credit & Insurance served as lead arranger and lead structuring agent.

## SEC filing metadata
- accession: 0001467623-25-000123
- form_type: 8-K
- ticker: DBX
- cik: 0001467623
- company_name: DROPBOX, INC.
- filed_at: 2025-09-09T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1467623/000146762325000123/0001467623-25-000123-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1467623/000146762325000123/dbx-20250909.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001467623-25-000123
- JSON: https://secwatch.observer/filing/0001467623-25-000123.json
- Plain text: https://secwatch.observer/filing/0001467623-25-000123.txt

## Key facts
- Debt Financings
  DROPBOX, INC. amended credit facility of up to $700.0 million at at either (a) an alternate base rate...plus a margin of 2.75%, or (b) a term SOF maturing September 9, 2030.
  - Instrument: credit facility
  - Principal: up to $700.0 million
  - Rate: at either (a) an alternate base rate...plus a margin of 2.75%, or (b) a term SOF
  - Maturity: September 9, 2030
  - Event: amendment
  source text: by the First Amendment, the “Amended Credit Agreement”) to provide for, among other things, additional secured delayed draw term loans in an aggregate principal amount up to $700.0 million (the “2025 Delayed Draw Term Loans”). The Amended Credit Agreement provides for a secured term loan facility in an aggregate principal amount of up to $2.7 billion, consisting of
  evidence_url: https://www.sec.gov/Archives/edgar/data/1467623/000146762325000123/0001467623-25-000123-index.htm

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