secwatch.observer — SEC 8-K summary
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Issuer:     AKAMAI TECHNOLOGIES INC (AKAM)
CIK:        0001086222
Form:       8-K
Filed at:   2026-05-18T20:16:52+00:00
Accession:  0001193125-26-228949
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Akamai proposes $2.6B 0% convertible notes, $350M buyback, ups leverage covenant
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- Offers $1.3B of 0% convertible notes due 2030 and $1.3B of 0% notes due 2032 to QIBs.
- Initial purchasers may buy an additional $200M of each tranche; pricing terms to be set.
- Plans to use ~$350M of net proceeds to repurchase shares from note purchasers.
- Remaining net proceeds to fund accelerated capex for Cloud Infrastructure Services business.
- Credit agreement amended to allow max consolidated leverage ratio of 4.75:1 for Q2/Q3 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1086222/000119312526228949/0001193125-26-228949-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1086222/000119312526228949/d123781d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-228949

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