Stock Track | Fastly, Inc. Plunges 6.05% in After-Hours Trading Amid $125 Million Convertible Bond Offering

Stock Track
2025/12/04

Fastly, Inc. (FSLY) saw its stock price drop sharply by 6.05% in after-hours trading following the company's announcement of a $125 million convertible senior notes offering. The San Francisco-based content-delivery network firm plans to use the proceeds to repurchase a portion of its outstanding 0% convertible senior notes due 2026 and to fund capped call transactions.

The market reacted negatively to the news, as convertible bond offerings often lead to concerns about potential dilution of existing shares and increased debt. Fastly's shares had closed up 0.8% at $11.74 during the regular trading session, but the after-hours plunge erased those gains. Analysts' median price target for Fastly stands at $10.75, according to LSEG data.

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