08:42 AM EDT, 06/10/2025 (MT Newswires) -- Rubrik ( RBRK ) said Tuesday it plans to offer $1 billion in convertible senior notes due 2030 through a private placement to qualified institutional buyers.

The company will grant initial purchasers a 13-day option to buy up to an additional $150 million of the notes, which will mature on June 15, 2030, and can be converted into cash, Class A common stock at a par value of $0.000025 per share, or both, the company said.

Rubrik ( RBRK ) said it expects to use proceeds to fund capped call transactions, repay $327.9 million in loans, and for general corporate purposes, including acquisitions and investments.

Shares of the company were down by more than 4% in recent Tuesday premarket activity.