Dropbox Completes New Secured Credit Agreement; Announces $1.2B Stock Repurchase Program
Dropbox, Inc. - Class A (DBX)
Company Research
Source: Business Wire
SAN FRANCISCO--(BUSINESS WIRE)--Dropbox, Inc. (“Dropbox” or the “Company”) (Nasdaq: DBX), today announced entry into a Credit and Guaranty Agreement providing the Company with up to $2.0 billion in secured term loan due 2029 and a $1.2 billion stock repurchase program. The facility was led and substantially provided by Blackstone Credit & Insurance, who served as lead arranger and lead structuring agent, and proceeds may be used for working capital and general corporate purposes, including share repurchases.The term loan facility includes a delayed draw feature with an initial borrowing of $1.0 billion and subsequent access to up to an additional $1.0 billion.In connection with entry into the Credit Agreement, the Company terminated its existing Revolving Credit and Guaranty Agreement, dated as of March 20, 2014.The Company also announced the authorization of a new share repurchase program for the purchase of an additional $1.2 billion of its Class A common stock.Following this tr
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DBX
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- 11/7/24 - Beat
DBX
Sec Filings
- 12/17/24 - Form 4
- 12/13/24 - Form 4
- 12/13/24 - Form 144
- DBX's page on the SEC website