Akamai Technologies Announces Convertible Note Offering and Share Repurchase

Details

completed its offering of $1.75 billion in 0.00% Convertible Senior Notes due 2030 and $1.75 billion in 0.00% Convertible Senior Notes due 2032. The company used $236.6 million of the net proceeds to pay for convertible note hedge transactions, $350.0 million to repurchase 2,476,298 shares of its common stock, and intends to use the remaining net proceeds to fund capital expenditures and for general corporate purposes. The notes are convertible into Akamai's common stock at initial conversion rates of 4.9650 shares per $1,000 principal amount for the 2030 notes and 5.2408 shares per $1,000 principal amount for the 2032 notes.

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About Akamai Technologies Inc.

Akamai Technologies Inc. is a leading provider of cloud services for global content delivery, application performance, and secure digital experiences. It plays a crucial role in enabling enterprises to deliver media-rich content efficiently and securely across the internet. Akamai’s robust network infrastructure is renowned for its ability to handle large-scale web traffic, ensuring swift data transfer and reduced latency for users worldwide. The company’s services are pivotal in areas such as media and entertainment, online gaming, software downloads, and e-commerce, where high-speed, uninterrupted service is essential. Additionally, Akamai offers comprehensive security solutions that protect websites and online data from cyber threats, making it a vital partner for businesses seeking to maintain data integrity and secure customer interactions. Based in Cambridge, Massachusetts, Akamai Technologies operates globally, supporting a diverse range of industries with its innovative solutions for digital transformation and cybersecurity.