SentinelOne Closes $1.25B 0.00% Convertible Notes Due 2031, Netting ~$1.41B
S sits 83% above its 52-week low of $11.81 on elevated volume (2.0× avg).
Summary
SentinelOne closed its $1.25 billion 0.00% convertible notes offering, raising about $1.41 billion net after the full option exercise, with $151.4 million spent on capped calls and $150 million on share repurchases.
Key Events · Financing and Capital Events · S
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Convertible Notes Offering Closed
SentinelOne completed the private placement of $1.25 billion 0.00% Convertible Senior Notes due 2031, including the full $187.5 million initial purchasers' option, on October 16, 2026.
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Net Proceeds and Use of Funds
Net proceeds were approximately $1,408 million after discounts and expenses; about $151.4 million funded capped calls, $150.0 million funded share repurchases, and the remainder is for general corporate purposes, further buybacks, and potential acquisitions.
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Conversion Terms and Dilution
The notes convert at an initial rate of 32.0379 shares per $1,000 principal (about $31.21 per share, a 30% premium to the $24.01 reference price on October 13, 2026), equating to 46,054,481 shares initially and up to 59,870,868 shares in limited circumstances.
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Capped Calls Raise Dilution Threshold
Capped call transactions with a $48.02 cap price (100% premium to the $24.01 reference price) are intended to reduce potential dilution and offset cash payments above principal upon conversion.
Analysis · S · Technology
SentinelOne completed its $1.25 billion convertible notes offering, including the full $187.5 million initial purchasers' option, for net proceeds of approximately $1.41 billion. The notes carry a 0.00% coupon and a $31.21 conversion price — a 30% premium to the $24.01 reference price on October 13, 2026 — so the raise is cheap capital with conversion risk deferred well above today's $21.65 price. Roughly $151.4 million went to capped calls that raise the effective dilution threshold to $48.02 per share, and $150 million funded buybacks of about 6.2 million shares at $24.01. The remaining proceeds are earmarked for general corporate purposes, further buybacks, and potential acquisitions, giving the company a large cash cushion but adding up to 46.1 million shares of potential future dilution if the notes convert.
How filings like this one have moved
In the 30 days to Oct 16, 2026, 36.9% of the 961 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, S was trading at $21.65 on NYSE in the Technology sector, with a market capitalization of approximately $7.5B. The 52-week trading range was $11.81 to $26.50. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.