secwatch.observer — SEC 8-K summary
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Issuer:     Alphabet Inc. (GOOGL)
CIK:        0001652044
Form:       8-K
Filed at:   2026-06-05T20:52:38+00:00
Accession:  0001193125-26-259830
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Alphabet Raises ~$19.25B via Series A & B Mandatory Convertible Preferred Offerings
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- Issued 167.5M Series A and 167.5M Series B depositary shares, each representing 1/20th of a 6.25% mandatory convertible preferred share, at $50 per depositary share on June 5, 2026.
- Underwriters exercised full over-allotment options for additional 25M depositary shares of each series, raising total proceeds to approximately $19.25B.
- Preferred shares automatically convert into Class A (GOOGL) or Class C (GOOG) stock on May 15, 2029, with conversion ratios ranging from 0.1126 to 0.1421 per depositary share.
- Alphabet entered into capped call transactions with underwriters (Goldman Sachs, J.P. Morgan, Morgan Stanley) to reduce potential dilution upon conversion.
- Dividends on preferred stock accrue at 6.25% per annum, payable quarterly starting August 15, 2026; payment restricts dividends on common stock unless preferred dividends are paid.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1652044/000119312526259830/0001193125-26-259830-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1652044/000119312526259830/d36818d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-259830

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