May. 15 at 2:44 AM
$AKAM Akamai prices upsized
$1.5B convertible senior note offering
Akamai "announced that it has priced its private offering of
$1.5 billion in aggregate principal amount of convertible senior notes due 2033. The offering was upsized from the previously announced offering of
$1.35 billion aggregate principal amount of convertible senior notes. The conversion rate will initially be 10.7513 shares of Akamai's common stock per
$1,000 principal amount of notes, which is equivalent to an initial conversion price of approximately
$93.01 per share of Akamai's common stock, subject to adjustments in certain events. The initial conversion price represents a premium of approximately 20% to the
$77.51 per share closing price of Akamai's common stock on May 14, 2025."
