Dropbox plans $1 billion convertible senior notes offering

• Dropbox plans a $1 billion private offering of convertible senior notes due 2031.
• Initial purchasers would receive a 13-day option for another $150 million, potentially raising the offering to $1.15 billion.
• Remaining proceeds, together with cash on hand, would repay at least $750 million of term loan borrowings.
• Other proceeds would fund approximately $175 million in Class A common stock repurchases and convertible note hedges, partially offset by warrant proceeds.
• Interest and conversion rates will be set at pricing.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Dropbox Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-26-126351), on November 12, 2026, and is solely responsible for the information contained therein.