Pinterest, Inc. (PINS), a visual search and discovery platform, on Tuesday announced a $1 billion strategic investment from Elliott Investment Management through the purchase of convertible senior notes.
Under the terms, Elliott will purchase $1 billion aggregate principal amount of notes maturing March 1, 2031, bearing interest at 1.75% annually.
The notes have an initial conversion price of approximately $22.72 per share, representing a 30% premium to the March 2 closing price.
Pinterest said it expects to use the proceeds to fund a $1 billion accelerated share repurchase.
The company also authorized a new $3.5 billion share repurchase program, replacing its prior authorization.
In total, Pinterest expects approximately $2 billion of share repurchases in the first half of 2026, including the $1 billion accelerated repurchase, up to $500 million of additional open-market repurchases.
In the pre-market trading, Pinterest is 7.01% higher at $18.70 on the New York Stock Exchange.
For comments and feedback contact: editorial@rttnews.com
Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.