Akamai Technologies Upsizes Convertible Senior Notes Offering to $1.5 Billion

Reuters
05-15
Akamai Technologies Upsizes Convertible Senior Notes Offering to $1.5 Billion

CAMBRIDGE, Mass., May 14, 2025 - Akamai Technologies, Inc. $(AKAM)$, a leading cybersecurity and cloud computing company, has announced the pricing of its upsized private offering of convertible senior notes, totaling $1.5 billion. These notes, due in 2033, will be sold exclusively to "qualified institutional buyers" under Rule 144A of the Securities Act of 1933. The offering was increased from the initially announced $1.35 billion. The transaction is expected to close on May 19, 2025, pending customary conditions. Akamai plans to use part of the proceeds to fund convertible note hedge transactions and to repay portions of its existing debt.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Akamai Technologies Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: NE88622) on May 15, 2025, and is solely responsible for the information contained therein.

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