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Activist Elliott Invests $1 Billion in Pinterest

Provided by Dow Jones Mar 3, 2026, 12:28:00 PM

By Nicholas G. Miller

Activist investor Elliott Investment Management has injected $1 billion into Pinterest, which the company will use to repurchase shares.

Elliott will buy $1 billion in convertible senior notes with an initial conversion price of $22.72 a share. The price represents a 30% premium to the stock's closing price as of Monday.

The $1 billion in accelerated share repurchases will be part of a new $3.5 billion share-buyback program that the company's board has authorized.

"We have been steadfast supporters of Pinterest since we first invested in 2022, and have strong conviction in the company's trajectory," said Marc Steinberg, partner at Elliott and a member of Pinterest's board.

Write to Nicholas G. Miller at nicholas.miller@wsj.com

(END) Dow Jones Newswires

March 03, 2026 07:28 ET (12:28 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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