Under the investment terms, Elliott will purchase $1 billion in convertible senior notes maturing March 1, 2031, with a 1.75% annual interest rate and a 30% premium to Pinterest’s March 2, 2026 closing price. The company will pay $1 billion under the accelerated repurchase agreement on March 5, 2026, receiving 80% of the shares initially. Transactions are expected to finalize by Q2 2026, with Elliott holding notes convertible to shares at $22.72 each—a price Pinterest expects to exceed as growth accelerates.