Hewlett Packard Enterprise in its $1.35 billion offering of mandatory convertible preferred stock

On September 10, 2024, Hewlett Packard Enterprise Company (NYSE: HPE) announced the pricing of a public offering of $1.35 billion (27 million shares) of Series C Mandatory Convertible Preferred Stock of HPE, in an underwritten registered public offering, at a price to the public and a liquidation preference of $50.00 per share. In addition, HPE granted to the underwriters a 30-day option to purchase up to an additional $150 million (3 million shares) of Series C Mandatory Convertible Preferred Stock to cover over-allotments, if any. HPE intends to use the net proceeds from the offering to fund all or a portion of the consideration for the acquisition of Juniper Networks, Inc., to pay related fees and expenses and for other general corporate purposes.

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