Dropbox entered into a senior secured revolving credit facility with JPMorgan Chase Bank as Administrative Agent, Collateral Agent, Joint Lead Arranger and Bookrunner, Citizens Bank, Goldman Sachs Bank USA and RBC Capital Markets, each as Joint Lead Arranger, the Lenders and Issuing Banks party thereto, and the other parties party thereto, providing the Company with up to $400 million in borrowing capacity on the terms and conditions set forth therein. Proceeds may be used for working capital and general corporate purposes, including share repurchases.

The Company also announced the authorization of a new share repurchase program for the purchase of an additional $900 million of its Class A common stock.