secwatch.observer — SEC 8-K summary
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Issuer:     AKAMAI TECHNOLOGIES INC (AKAM)
CIK:        0001086222
Form:       8-K
Filed at:   2025-05-19T23:59:59+00:00
Accession:  0001193125-25-122451
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 $1.725B of 0.25% convertible notes due 2033, uses $300M to buy back shares
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- $1.725B aggregate principal of 0.25% Convertible Senior Notes due May 15, 2033; initial conversion price ~$93.01 (20% premium).
- Net proceeds used: $300M to repurchase 3,870,468 shares at $77.51, $275M for hedge cost, $250M to repay revolver.
- Entered convertible note hedge and warrant transactions to reduce potential dilution from conversion.
- Notes sold in private placement to QIBs; not redeemable before maturity; holders can force repurchase in 2031 if stock below conversion price.
- Also intends to repay $250M of revolver and part of $1.15B 0.375% 2027 notes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1086222/000119312525122451/0001193125-25-122451-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1086222/000119312525122451/d948474d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-122451

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