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Snap to Raise $750 Million With Debt Offering

By
Alex Heath
· · Source: The Information

Snap said Thursday it would raise $750 million in a convertible note offering, beefing up its cash reserves with what is likely to be inexpensive debt. The move comes a day after Snap reported better than expected earnings for the first quarter, sending its stock price up roughly 30%. The company said it would use the money to cover expenses, “general corporate purposes,” and to potentially...

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