Rubrik $1.15 billion convertible senior notes offering
The 0% convertible senior notes are due 2030
Davis Polk advised the representative of the several initial purchasers in connection with a Rule 144A offering by Rubrik, Inc. of $1.15 billion aggregate principal amount of its 0.00% convertible senior notes due 2030. The notes included $150 million principal amount of notes pursuant to the exercise in full of the initial purchasers’ option to purchase additional notes. In addition, Davis Polk advised the counterparties to the capped call transactions entered into in connection with the offering.
Headquartered in Palo Alto, California, Rubrik helps organizations achieve business resilience against cyberattacks, malicious insiders and operational disruptions. Rubrik offers products and services designed to secure data across enterprise, cloud and SaaS applications.
The Davis Polk corporate team included partners Alan F. Denenberg and Emily Roberts and associates Savannah J. Dowling and Ryan Pham. The equity derivatives team included partner Mark M. Mendez, counsel Hanbing Zhang and associate Ji Hwan Kim. The tax team included partner Lucy W. Farr and associate Tyler Scheiner. Partner Matthew J. Bacal provided intellectual property and data privacy advice. Members of the Davis Polk team are based in the Northern California and New York offices.