Snowflake Stock Slips After $3.5 Billion Convertible Note Offering

Snowflake NYSE:SNOW, the AI data cloud company, fell 2.51% in premarket after it said it said it plans to sell $3.5 billion of convertible senior notes in a private placement. The offering is split between $1.3 billion of notes due Oct. 15, 2029, and $2.2 billion due Oct. 15, 2031. Both carry a 0…