We advised the initial purchasers on the offering

Davis Polk advised the representatives of the several initial purchasers, in connection with a Rule 144A offering by Snowflake Inc. of $2 billion aggregate principal amount of its 0.00% convertible senior notes due 2029 and $1.75 billion aggregate principal amount of its 0.00% convertible senior notes due 2031. In addition, Davis Polk advised the counterparties to the capped call transactions entered into in connection with the offering.

Snowflake makes enterprise AI easy, efficient and trusted. Thousands of companies around the globe, including hundreds of the world’s largest, use Snowflake’s AI Data Cloud to share data, build applications and power their business with AI.

The Davis Polk corporate team included partner Alan F. Denenberg and associates Dove Barbanel and Joon Ko. The equity derivatives team included partner Mark M. Mendez and associates Melissa X. Estrada and Zifeng Zeng. The intellectual property team included partner Matthew J. Bacal and associate Ryan Grawe. The tax team included partner Lucy W. Farr and associate David J. Beer. Members of the Davis Polk team are based in the Northern California, New York and London offices.

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