DigitalOcean Holdings Inc. has announced its plan to offer $500 million in convertible senior notes due 2030, with an option for initial purchasers to acquire an additional $75 million. These notes are senior, unsecured obligations and will accrue interest payable semi-annually, maturing on August 15, 2030. The company intends to use the proceeds to manage existing debt, including repurchasing a portion of its 0.00% convertible senior notes due 2026. Additionally, DigitalOcean will engage in capped call transactions to mitigate potential stock dilution upon note conversion. The notes are not redeemable until August 15, 2028, and certain terms, including the interest rate, will be determined upon pricing.
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