Rubrik, Inc. announced on June 10, 2025, the pricing of $1.0 billion aggregate principal amount of 0.00% Convertible Senior Notes due 2030 in a private placement. The sale of the Notes to the initial purchasers is expected to close on June 13, 2025.
The net proceeds from the offering are estimated to be approximately $980.0 million, after deducting discounts and expenses. Rubrik intends to use these proceeds to pay the $77.0 million cost of capped call transactions, repay in full the $327.9 million principal amount of outstanding loans under its credit agreement, and for general corporate purposes, including acquisitions or strategic investments.
The Notes will not bear regular interest and will mature on June 15, 2030. The initial conversion rate is 8.0155 shares of Class A common stock per $1,000 principal amount, equivalent to an initial conversion price of approximately $124.76 per share, representing a conversion premium of approximately 42.5%.
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