** Shares of Nutanix down 0.2% at $64.03 on Weds as hybrid cloud computing co seeks capital raise ** San Jose, California-based NTNX late Tues said offering privately $750 mln 5-yr convertible bonds (CBs)
** It intends to use net offering proceeds to repurchase portion of 0.25% CBs due 2027 from certain holders, and repurchase up to $200 mln of its stock in negotiated transactions with institutional investors
** Co plans to remaining proceeds for general purposes, including potential acquisitions
** With ~267.9 mln shares outstanding, co has roughly $17 bln market cap, per LSEG ** Two weeks ago, co reported fiscal Q1 top and bottom-line beat as ARR (annual recurring revenue) grew 18% y/y, highlighting its expanded partnership with Amazon's cloud services unit, AWS
** NTNX shares fell prior four sessions. Still, stock up nearly 35% YTD vs the Nasdaq's 33% advance
** Avg rating among 17 analysts is "buy": median PT of $83 up from $74.50 a month ago - LSEG
(Lance Tupper is a Reuters market analyst. The views expressed are his own) ((lance.tupper@tr.com 1-646-279-6380))
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