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Dropbox ( (DBX) ) has issued an update.
Dropbox has entered into a Credit and Guaranty Agreement, securing up to $2 billion in term loans, with Blackstone Credit & Insurance as the lead arranger. This agreement, which includes a $1.0 billion initial borrowing and a share repurchase program of $1.2 billion, aims to support working capital, corporate purposes, and shareholder returns, while positioning Dropbox to meet or exceed its financial guidance for Q4 and the fiscal year 2024.
More about Dropbox
Dropbox is a company focused on providing cloud-based file storage and collaboration services, with a mission to improve productivity and organization for its over 700 million registered users across approximately 180 countries.
YTD Price Performance: -3.15%
Average Trading Volume: 2,670,470
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $8.84B
Learn more about DBX stock on TipRanks’ Stock Analysis page.
