secwatch.observer — SEC 8-K summary
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Issuer:     AKAMAI TECHNOLOGIES INC (AKAM)
CIK:        0001086222
Form:       8-K
Filed at:   2023-08-16T23:59:59+00:00
Accession:  0001193125-23-213918
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Akamai prices $1.1B convertible notes due 2029, upsized from $1B
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- Offers $1.1B principal of 1.125% notes due Feb 2029; initial purchasers have $165M over-allotment option.
- Conversion price ~$126.31/share (22.5% premium over $103.11 closing price); net proceeds ~$1,084.5M.
- Expects to use proceeds to repay part of $1.15B 0.125% notes due 2025 and $75M for share repurchases.
- Enters convertible note hedge and warrant transactions to reduce dilution; net cost ~$127.3M.
- Offering expected to close August 18, 2023; notes sold only to QIBs under Rule 144A.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1086222/000119312523213918/0001193125-23-213918-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1086222/000119312523213918/d515301d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-213918

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