Akamai Announces Pricing of Offering of Convertible Senior Notes
Key Highlights
- ➤$2.2B convertible notes priced: $1.1B due 2028 and $1.1B due 2031
- ➤2028 notes conversion price $112.41, a 40.0% premium to Akamai’s stock price
- ➤2031 notes conversion price $102.37, a 27.5% premium to Akamai’s stock price
- ➤$2.164B estimated net proceeds target 2027 debt repayment and cloud infrastructure spending
- ➤1.00% notes include hedge transactions reducing potential conversion dilution
CAMBRIDGE, Mass., Nov. 09, 2026 (GLOBE NEWSWIRE) -- Akamai Technologies, Inc. (Nasdaq: AKAM) (“Akamai”), today announced that it has priced its private offering of $1.1 billion in aggregate principal amount of 1.00% convertible senior notes due 2028 (the “2028 Notes”) and $1.1 billion in aggregate principal amount of 1.00% convertible senior notes due 2031 (the “2031 Notes” and, together with the 2028 Notes, the “notes”). The notes will be sold only to persons reasonably believed to be “qualified institutional buyers” pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). In addition, Akamai has granted the initial purchasers for the offering an option to purchase up to an additional $150.0 million in aggregate principal amount of the 2028 Notes and an additional $150.0 million in aggregate principal amount of the 2031 Notes, in each case, on the same terms and conditions. The sale of the notes is expected to close on November 12, 2026, subject to customary closing conditions.
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