CM – Splunk rises on Silver Lake investment, repurchasing $ 1 billion

0 â ???? Splunk (NASDAQ:


) Shares rose 10% in early trading Tuesday as two announcements of a $ 1 billion investment


Lake and an equal share buyback program.

Silver Lake, a technology company-focused private equity investor, will invest $ 1 billion in Splunk’s convertible bonds.

Splunk expects the proceeds to fund Use growth initiatives and manage its capital structure, including a newly approved share buyback program of up to $ 1 billion over time. Notes issued to Silver Lake will have an initial conversion price of $ 160 each Splunk common stock, subject to customary anti-dilution measures and other adjustments. The price is a 27.5% markup on Splunk’s Monday close of $ 125.49.

The Notes, with an annual coupon of 0.75%, mature in July 2026, unless redeemed, redeemed or converted earlier .

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