BUZZ - SentinelOne shares slide on plans to issue $1.25 billion convertible bonds

October 13 - ** Cybersecurity platform SentinelOne (S.N) saw its share price fall by 9% to $23.35 in pre-market trading due to its financing plan

** S announced (link) a private placement of $1.25 billion 0% convertible bonds due in 2031

** The company plans to use the net proceeds for general corporate purposes, share repurchases, working capital, capital expenditures, and potential acquisitions

** The company also plans to use part of the funds raised to pay for the costs of "capped call transactions" to mitigate equity dilution and to repurchase $150 million of its own shares from convertible bond investors

** This Mountain View, California-based company has a market capitalization of nearly $9 billion

** As of Monday's close, the stock is up about 71% year-to-date

** According to London Stock Exchange Group (LSEG) data, out of 37 analysts, 19 rate the stock as "strong buy" or "buy," and 18 give a "hold" rating; the median target price is $25, up from $19 three months ago

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