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Pinterest in its $1.0 billion strategic investment from Elliott

On March 3, 2026, Pinterest, Inc. (NYSE: PINS) announced that it has entered into an agreement with affiliates of Elliott Investment Management, L.P., pursuant to which Elliott will invest $1.0 billion in Pinterest in the form of 1.75% convertible senior notes due 2031, and that its Board has authorized a new $3.5 billion share repurchase program.  Pinterest expects to use the proceeds from Elliott’s investment to repurchase shares of its Class A common stock via a $1.0 billion accelerated share repurchase agreement under the new repurchase program.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Pinterest.

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