Hewlett Packard Enterprise falls after $1.35 bln convertible deal launch

Juniper Networks

09/09/2024 22:24

** Shares of Hewlett Packard Enterprise  HPE.N  down 5.7% at
$16.60 in extended trading as AI server maker looks to raise
capital to fund acquisition
    ** Co commences $1.35 bln (27 mln shares) 3-yr mandatory
convertible preferred stock offering
    ** It intends to use net proceeds to finance previously
announced $14 bln acquisition of Juniper Networks  JNPR.N  
    ** Citigroup, JP Morgan and Mizuho joint book-running
managers for offering
    ** HPE shares on Mon closed up 0.4% to $17.60
    ** YTD, stock up 3.6% vs S&P 500's  .SPX  14.7% gain and S&P
500 Tech sector's  .SPLRCT  19.3% advance  

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))