secwatch.observer — SEC 8-K summary
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Issuer:     AKAMAI TECHNOLOGIES INC (AKAM)
CIK:        0001086222
Form:       8-K
Filed at:   2026-05-20T11:45:16+00:00
Accession:  0001193125-26-231745
Event type: debt
Sentiment:  neutral
Materiality: 0.85
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1086222/000119312526231745/0001193125-26-231745-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1086222/000119312526231745/d227940d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-231745

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