** AI cloud platform DigitalOcean's DOCN.N shares rise 1.4% to $29.97
** DOCN announces pricing of upsized offering of $550 million of convertible bonds due 2030
** Offering boosted from initial size of $500 million
** Stock closed down 10.6% at $29.56 on Monday after DOCN unveiled the offering
** Initial conversion price of $39.17 apiece represents roughly 32.5% premium to the last reported sale price
** 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
** 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 13.2% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com))
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