Akamai Technologies completed two private offerings of senior unsecured convertible notes on November 12, 2026, raising $1.25 billion each, bearing interest at 1.00% and maturing on November 15, 2028 and 2031, respectively. The initial conversion prices are approximately $112.41 and $102.37 per share, representing premiums of 40.0% and 27.5% over the November 9, 2026 closing price of $80.29. Approximately $284.4 million will cover the costs of convertible note hedge transactions, while the remainder will fund a partial repayment of the $1.15 billion of 2027 convertible notes and capital spending for cloud infrastructure services. The new coupons are higher than the 0.375% rate on the 2027 notes, and the hedge transactions are designed to limit dilution, although the warrants sold to counterparties could create dilution if they are not settled in cash.
Source: Read the original article


