DigitalOcean Holdings, Inc. (DOCN): debt financing — DigitalOcean closes $625M 0% convertible notes due 2030; repurchases $1.19B of 2026 notes

DigitalOcean Holdings, Inc.

Upsized $625M offering (incl. $75M greenshoe) of 0.00% convertible senior notes due 2030; initial conversion price ~$39.17/share.
Net proceeds ~$605.6M; $83.9M used for capped call; plus $380M term loans and cash to repurchase $1,187.7M of 2026 notes.
Capped call transactions set cap price at $66.51/share (125% premium over $29.56 close) to reduce potential dilution.
New $100M stock repurchase program authorized; may buy shares via open market or 10b5-1 plan through July 31, 2027.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

DigitalOcean Holdings, Inc. incurred convertible notes of $625 million principal amount with U.S. Bank Trust Company, National Association at 0.00% maturing August 15, 2030.

Instrument: convertible notes
Principal: $625 million principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 0.00%
Maturity: August 15, 2030
Event: incurrence

Exact text from the filing

completed its previously announced private offering (the “Offering”) of $625 million principal amount of its 0.00% Convertible Senior Notes due 2030 (the “Notes”), including the exercise in full of the initial purchasers’ option to purchase up to an additional $75 million principal amount of Notes.

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DigitalOcean Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-25-180799

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