---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-215943"
form_type: "8-K"
ticker: "AKAM"
cik: "0001086222"
company_name: "AKAMAI TECHNOLOGIES INC"
filed_at: "2023-08-18T23:59:59+00:00"
generated_at: "2026-06-11T06:46:40.122879+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Akamai issues $1.1B of 1.125% convertible notes due 2029, buys back $75M of stock

## Summary
- Offered $1.1B aggregate principal of 1.125% Convertible Senior Notes due Feb 15, 2029; initial purchasers have option for additional $165M.
- Initial conversion price ~$126.31 per share (22.5% premium over $103.11 closing price on Aug 15, 2023).
- Used ~$75M of net proceeds to repurchase 727,379 shares at $103.11 per share.
- Used ~$127.3M for convertible note hedge transactions (cost partially offset by warrant sale proceeds).
- Remaining net proceeds to repay 0.125% 2025 Convertible Notes ($1.15B outstanding) at maturity or upon conversion.

## SEC filing metadata
- accession: 0001193125-23-215943
- form_type: 8-K
- ticker: AKAM
- cik: 0001086222
- company_name: AKAMAI TECHNOLOGIES INC
- filed_at: 2023-08-18T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 8.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1086222/000119312523215943/0001193125-23-215943-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1086222/000119312523215943/d525419d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-215943
- JSON: https://secwatch.observer/filing/0001193125-23-215943.json
- Plain text: https://secwatch.observer/filing/0001193125-23-215943.txt

## Key facts
- Debt Financings
  AKAMAI TECHNOLOGIES INC incurred convertible notes of $1,100,000,000 in aggregate principal amount with U.S. Bank Trust Company, National Association at 1.125% per year maturing February 15, 2029.
  - Instrument: convertible notes
  - Principal: $1,100,000,000 in aggregate principal amount
  - Counterparty: U.S. Bank Trust Company, National Association
  - Rate: 1.125% per year
  - Maturity: February 15, 2029
  - Event: incurrence
  source text: completed its previously announced offering of $1,100,000,000 in aggregate principal amount of its 1.125% Convertible Senior Notes due February 15, 2029
  evidence_url: https://www.sec.gov/Archives/edgar/data/1086222/000119312523215943/0001193125-23-215943-index.htm
- Material Agreements
  AKAMAI TECHNOLOGIES INC entered into 1.125% Convertible Senior Notes due February 15, 2029 with Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and BofA Securities, Inc. valued at $1,100,000,000 aggregate principal amount of 1.125% Convertible Senior Notes due February 15, 2029 (effective 2023-08-18).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and BofA Securities, Inc.
  - Value: $1,100,000,000 aggregate principal amount of 1.125% Convertible Senior Notes due February 15, 2029
  - Effective: 2023-08-18
  source text: On August 18, 2023, Akamai Technologies, Inc. (“Akamai”) completed its previously announced offering of $1,100,000,000 in aggregate principal amount of its 1.125% Convertible Senior Notes due February 15, 2029 (the “Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1086222/000119312523215943/0001193125-23-215943-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.