(SPLK) shares are trading sharply higher after the IT infrastructure analytics company announced an agreement to sell $1 billion of convertible senior notes to the private-equity firm Silver Lake “to support the continued transformation of its business.” Splunk shares (ticker: SPLK) were up 10.8%, at $139.04, in recent trading. Splunk has been working through a major business transformation, gradually shifting to cloud-based versions of its software, while also moving to a subscription-based revenue model.
