DigitalOcean issues $1.5B in 0% convertible notes due 2026, repurchases $350M in stock

DigitalOcean Holdings, Inc.

$1.5B aggregate principal of zero-coupon convertible notes due December 1, 2026; net proceeds ~$1.46B.
Used $350M of proceeds to repurchase 2.9M shares at $119.01/share (last sale price on Nov 12, 2021).
Initial conversion rate 5.6018 shares per $1,000 principal; conversion price ~$178.51 per share.
Notes are senior unsecured, redeemable after Dec 2, 2024 if stock price exceeds 130% of conversion price.
Remaining net proceeds earmarked for general corporate purposes and potential acquisitions.

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