secwatch.observer — SEC 8-K summary
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Issuer:     AKAMAI TECHNOLOGIES INC (AKAM)
CIK:        0001086222
Form:       8-K
Filed at:   2023-08-18T23:59:59+00:00
Accession:  0001193125-23-215943
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 8.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1086222/000119312523215943/0001193125-23-215943-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1086222/000119312523215943/d525419d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-215943

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer