** AI cloud platform DigitalOcean's DOCN.N shares slide 8% to $30.43 in early trading
** DOCN announces offering of $500 million of convertible bonds due 2030 in a private offering
** Proceeds will be used to repurchase portion of its convertible bonds due 2026 and to pay cost of capped calls, derivative transactions to offset dilution
** With 91 million outstanding shares, DOCN has a nearly $3 billion market cap
** 8 of 13 brokerages rate the stock "buy" or higher and 5 "hold"; median PT $38.50 - data compiled by LSEG
** As of last close, DOCN stock down 3% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com))
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