Akamai prices $1.5B each of 2030 and 2032 convertible notes (0% coupon) in upsized $3B offering

AKAMAI TECHNOLOGIES INC

Priced $1.5B 0% convertible notes due 2030 and $1.5B due 2032, upsized from $1.3B each; option for additional $250M each.
Conversion prices: ~$201.41/share (2030, 42.5% premium) and ~$190.81/share (2032, 35% premium) based on $141.34 closing price.
Net proceeds ~$2.958B (up to $3.452B with option); intends ~$203M for hedge cost, ~$350M for share buybacks, remainder for CIS capex.
Entered convertible note hedge and warrant transactions to reduce dilution from conversions and offset cash payments.
Closing expected May 22, 2026.

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