Shares of digital payment company Square, Inc. (SQ) are down 5 percent on Wednesday’s trading even as company recently announced the pricing of $2.0 billion offering of Senior Notes.
Square has priced $1 billion 2.75 percent senior notes due in 2026 and $1 billion 3.50 percent senior notes due in 2031 in a private institutional placement. The sale of the Notes is expected to be completed by May 20.
The company plans to use the proceeds from the senior notes offering for general corporate purposes, acquisitions, strategic transactions, capital expenditures, investments, and working capital.
SQ, which is currently trading at $193.42, has traded between $76.02 and $283.19 during the past 52 weeks.
Business News
Stock Alert: Square Trading Down 5%
2021-05-19 14:40:45
