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09.09.25 - 14:24
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Dropbox Amends Secured Credit Agreement; Announces Additional $1.5B Stock Repurchase Program (Business Wire)
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SAN FRANCISCO--(BUSINESS WIRE)--Dropbox, Inc. (“Dropbox” or the “Company”) (Nasdaq: DBX), today announced an amendment to its existing Credit and Guaranty Agreement providing the Company with up to an additional $700 million in delayed draw secured term loans. The amended facility was led and substantially provided by Blackstone Credit & Insurance, who served as lead arranger and lead structuring agent. Proceeds of the additional delayed draw term loans may only be used to repay the Company's outstanding convertible senior notes due in 2026.
The Company also announced a new share repurchase authorization for the purchase of an additional $1.5 billion of its Class A common stock.
About Dropbox
Dropbox is the one place to keep life organized and keep work moving. With more than 700 million registered users across approximately 180 countries, we're on a mission to design a more enlightened way of working. Dropbox is headquartered in San Francisco, CA, and has employees around the world. For more in...
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