Akamai closes $3.5B zero-coupon convertible note offering; repurchases $350M in stock

AKAMAI TECHNOLOGIES INC

Issued $1.75B in 0.00% Convertible Senior Notes due 2030 and $1.75B due 2032.
Used $236.6M of net proceeds for convertible note hedge transactions; $350M to repurchase 2,476,298 shares at $141.34/share.
Remaining proceeds for Cloud Infrastructure Services (CIS) capex build-out and general corporate purposes.
Convertible note hedge and warrant transactions entered with dealers to reduce potential dilution upon conversion.
Initial conversion prices: ~$201.41 (2030) and ~$190.81 (2032), representing ~42.5% and ~35% premiums over $141.34 closing price.

item 1.01 item 8.01 item 2.03 item 3.02 item 9.01

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