Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
Dropbox has secured a $2 billion term loan facility led by Blackstone, with an initial draw of $1 billion and access to an additional $1 billion. The loan is due in 2029. In conjunction with this financing, Dropbox has authorized a $1.2 billion share repurchase program. The company anticipates meeting or exceeding its guidance for the fourth quarter and full year 2024 as it advances its strategic growth initiatives. Following the announcement, Dropbox's stock rose by 4.8% in pre-market trading.
Dropbox $DBX secured a $2B term loan (due 2029) led by Blackstone Credit, with an initial $1B draw and access to another $1B. The company also authorized a $1.2B stock repurchase program.
$DBX (+4.8% pre) Dropbox (DBX) Completes New Secured Credit Agreement, Announces $1.2B Stock Repurchase Program - SI https://t.co/rB8pzOLiLL
$DRX Dropbox Secures $2B Term Loan Facility Led By Blackstone And Authorizes $1.2B Share Repurchase Program; Expects To Meet Or Exceed Q4 And FY 2024 Guidance As Strategic Growth Initiatives Advance