Benzinga | Jun 28, 2021 08:19AM EDT

Elastic Seeks To Raise $500M Via Private Senior Debt Offering

* Search company Elastic NV (NYSE:ESTC) intends to offer $500 million senior notes due 2029 in a private institutional offering.

* The offering proceeds will serve general corporate purposes, including capital expenditures, investments, working capital, and strategic acquisitions.

* It had an accumulated deficit of $613.3 million as of April 30, 2021.

* ESTC shares gained 60% last year.

* Price action: ESTC shares closed higher by 1.47% at $148.79 on Friday.