DigitalOcean Holdings, Inc. (NYSE: DOCN) announced the closing of its previously announced offering of $625 million aggregate principal amount of 0.00% convertible senior notes due 2030. This includes the full exercise of the initial purchasers' option to purchase an additional $75 million aggregate principal amount of the notes. The notes will mature on August 15, 2030. DigitalOcean estimates that the net proceeds from the offering are approximately $605.6 million, after deducting the initial purchasers' discounts and commissions and estimated offering expenses. The company plans to use these proceeds to finance capped call transactions and repurchase notes due 2026.
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