India, Oct. 13 -- SentinelOne Inc. (S), a cybersecurity company, said Tuesday it intends to offer $1.25 billion of 0.00% convertible senior notes due 2031 in a private placement.
The company also plans to grant initial purchasers an option to buy up to an additional $187.5 million of the notes.
SentinelOne expects to use the net proceeds to fund capped call transactions related to the notes, repurchase up to $150 million of its Class A shares upon pricing, and for general corporate purposes, including further buybacks, capital expenditures and potential acquisitions.
Upon conversion, SentinelOne may settle the notes in cash, shares of its Class A common stock or a combination of both, at its election.
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