Skip to main content

Market Overview

Square Seeks To Raise $2B Via Institutional Debt Offering

Share:
Square Seeks To Raise $2B Via Institutional Debt Offering
  • Square Inc (NYSE: SQannounced its plans to raise $2 billion from private institutional senior note offering.
  • The offering proceeds will be utilized for general corporate purposes, including acquisitions, strategic transactions, capital expenditures, investments, and working capital.
  • Recently, Square reported a Bitcoin (CRYPTO: BTC)-fueled revenue of $5.06 billion (up 266% year-on-year), beating the analyst consensus of $3.36 billion. The company had reported an EPS of $0.41, beating the analyst consensus of $0.16.
  • Square held $3 billion in cash and equivalents as of Mar. 31, 2021, and had $2.98 billion in long-term debt on its balance sheet.
  • Price action: SQ shares traded lower by 2.95% at $201.65 on the last check Monday.
 

Related Articles (SQ)

View Comments and Join the Discussion!

Posted-In: BriefsNews Offerings Tech Media Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com