Dropbox (DBX) signed a senior secured revolving credit facility with a group of lenders for up to $400 million in borrowing capacity and launched a buyback program for up to $900 million of its Class A common shares, the company said Monday.
Proceeds from the facility may be used for general corporate purposes, including share buybacks, Dropbox said.
Shares of Dropbox were up more than 6% in Monday trading.
Price: 28.41, Change: +1.53, Percent Change: +5.69
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