secwatch.observer — SEC 8-K summary
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Issuer:     Snowflake Inc. (SNOW)
CIK:        0001640147
Form:       8-K
Filed at:   2026-10-02T20:06:31+00:00
Accession:  0001640147-26-000043
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Snowflake completes $3.75B convertible note offering; repurchases $548.3M of 2027 notes
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- $2.0B of 0.00% convertible senior notes due 2029 and $1.75B due 2031 issued; notes bear no regular interest and principal does not accrete.
- Net proceeds ~$3.70B; used $383.5M for capped call transactions and $548.3M to repurchase 2027 notes, remainder for general corporate purposes, buybacks or acquisitions.
- Initial conversion prices: ~$500.38/share for the 2029 notes and ~$483.98/share for the 2031 notes; capped call cap price $820.30, a 150% premium to the Sept. 28 close.
- Maturities Oct. 15, 2029 and Oct. 15, 2031; purchasers hold 13-day options for up to $300M more 2029 notes and $250M more 2031 notes.
- Up to 7,009,480 shares issuable upon conversion of the 2029 notes and 6,095,200 shares upon conversion of the 2031 notes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1640147/000164014726000043/0001640147-26-000043-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1640147/000164014726000043/snow-20260928.htm
  HTML page:      https://secwatch.observer/filing/0001640147-26-000043

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer