Monitor Pinterest's stock price relative to the $22.72 conversion price and the 130% redemption threshold (~$29.54). Watch for any fundamental changes that could trigger repurchase rights. The notes create potential dilution if converted, but provide Pinterest with low-cost capital until 2031.
Price Chart
Executive Summary
Pinterest issued $1 billion in 1.75% convertible senior notes due 2031 to Elliott Investment Management. The notes are unregistered, convertible into stock at an initial rate of 44.0063 shares per $1,000 principal, and can be redeemed by Pinterest after March 5, 2029 if its stock price exceeds 130% of the conversion price. Holders can require repurchase upon a fundamental change.
Key Financial Metrics
Key Facts
- Pinterest issued $1 billion in 1.75% convertible senior notes due 2031 to Elliott Investment Management
- The notes are unregistered securities issued under Section 4(a)(2) of the Securities Act
- Initial conversion rate is 44.0063 shares of Class A common stock per $1,000 principal amount (conversion price of ~$22.72 per share)
- Notes are not redeemable before March 5, 2029; after that date, Pinterest may redeem them if the stock price has been at least 130% of the conversion price for 20 out of 30 consecutive trading days
- Holders may require Pinterest to repurchase the notes at 100% of principal plus accrued interest upon a fundamental change
Financial Impact
$1 billion in new debt with conversion option at ~$22.72 per share
Risk Factors
- Potential dilution if notes are converted
- Repayment obligation if not converted or redeemed
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-092744 |
| Document: d107385d8k.htm | 0001193125-26-092744 |
| Document: 0001193125-26-092744-index-headers.html | 0001193125-26-092744 |
| Document: 0001193125-26-092744-index.html | 0001193125-26-092744 |
| Document: 0001193125-26-092744.txt | 0001193125-26-092744 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 26, 2026 5w ago | Insider Cluster | $22.88 $18.88 | ▼ −17.48% | ▼ −17.38% | $19.26 (−15.82%) |
Aug 20, 2026 6w ago | Insider Cluster | $23.23 $18.60 | ▼ −19.93% | ▼ −19.93% | $19.26 (−17.09%) |
Aug 20, 2026 6w ago | Insider Cluster | $23.23 $18.31 | ▲ +21.18% | ▲ +21.18% | $19.26 (+17.09%) |
Aug 12, 2026 7w ago | Insider Cluster | $23.32 $19.05 | ▲ +18.31% | ▲ +16.56% | $19.26 (+17.41%) |
Aug 12, 2026 7w ago | 144 | $23.32 $19.05 | ▼ −18.31% | ▼ −16.56% | $19.26 (−17.41%) |
Aug 7, 2026 8w ago | 8-K | $23.68 $20.40 | ▼ −13.85% | ▼ −13.45% | $19.26 (−18.67%) |
Aug 4, 2026 8w ago | 8-K | $23.36 $21.22 | ▼ −9.16% | ▼ −8.56% | $19.26 (−17.55%) |
Jul 24, 2026 10w ago | Institutional Cluster | $22.13 $23.40 | ▲ +5.74% | ▲ +2.11% | $19.26 (−12.97%) |
Jul 15, 2026 11w ago | Insider Cluster | $23.09 $23.32 | ▲ +1.00% | ▼ −2.62% | $19.26 (−16.59%) |
Jul 15, 2026 11w ago | Insider Cluster | $23.09 $23.32 | ▲ +1.00% | ▼ −2.62% | $19.26 (−16.59%) |
US Market Status
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