Pinterest has attracted $1 billion in investments from Elliott

Elliott Investment Management is investing $1 billion in Pinterest. The company plans to use these funds to repurchase its Class A shares through an accelerated share repurchase (ASR) program for the same amount.

The ASR and other future share repurchases will be conducted under a new $3.5 billion share repurchase program approved by Pinterest’s board of directors, which takes effect today.

In addition to the $1 billion accelerated repurchase, the company also plans to repurchase up to an additional $500 million of its shares using its own funds under a 10b5-1 trading plan. Specific volumes will depend on market conditions and management decisions.

Since the beginning of 2026, Pinterest has already repurchased $473 million worth of shares under a previous program approved in November 2024. In total, the $1 billion accelerated repurchase, the additional $500 million, and the already completed $473 million repurchase could bring the total share repurchase volume to approximately $2 billion in the first half of 2026.

Pinterest CEO Bill Ready noted that the company achieved record revenue in 2025. The number of users has reached a historical high for ten consecutive quarters, and the number of monthly searches on the platform exceeded 80 billion. He also emphasized that Elliott’s investment demonstrates investor confidence in the company’s business and its future growth.

Mark Steinberg, a partner at Elliott and a member of Pinterest’s board of directors, stated that the fund has been supporting the company since 2022 and is confident in its development. Elliott sees significant opportunities for Pinterest’s further growth and intends to continue collaborating with the company’s management.

As part of the deal, Elliott will acquire $1 billion worth of Pinterest’s convertible bonds. The initial conversion price will be approximately $22.72 per share, which is about 30% higher than the closing price of the company’s shares on March 2, 2026. The bonds mature on March 1, 2031, with an annual interest rate of 1.75%.

On March 5, 2026, Pinterest will pay $1 billion under the accelerated share repurchase agreement. The company expects to receive approximately 80% of the shares planned for repurchase under this program. The final number of shares will be determined later based on the volume-weighted average market price.

The accelerated repurchase operations are expected to be completed no later than the second quarter of 2026.

Source: investor.pinterestinc.com