Home / Business and Economy / Elliott Invests $1B in Pinterest for Share Buybacks
Elliott Invests $1B in Pinterest for Share Buybacks
3 Mar
Summary
- Elliott Investment Management is injecting $1 billion into Pinterest.
- The funds will support Pinterest's new $3.5 billion share repurchase program.
- Notes purchased by Elliott convert at a 30% premium over Monday's closing price.
Elliott Investment Management has committed $1 billion to Pinterest, announced on Tuesday, March 3, 2026. This investment supports the social media company's ongoing initiatives to repurchase its own shares.
Pinterest's board authorized a new $3.5 billion share repurchase program on Tuesday. The company also intends to acquire up to $500 million in additional shares using available cash.
Elliott will purchase $1 billion in Pinterest's convertible senior notes. These notes carry an initial conversion price of approximately $22.72 per share, a 30% increase compared to Monday's closing price. The notes mature on March 1, 2031, and accrue interest at an annual rate of 1.75%.
Pinterest CEO Bill Ready expressed confidence, viewing Elliott's investment as validation of the company's progress and future potential. Elliott, a stakeholder since 2022, shares this optimistic outlook on Pinterest's business path.
