Akamai prices $2.2B of 1.00% convertible notes; conversion premiums of 40.0% and 27.5%

AKAMAI TECHNOLOGIES INC

$1.1B of 1.00% convertible senior notes due Nov 15, 2028 and $1.1B due Nov 15, 2031; $150M option on each series; closing expected Nov 12, 2026.
2028 notes conversion price ~$112.41 (40.0% premium to $80.29 close on Nov 9, 2026); 2031 notes ~$102.37 (27.5% premium), 9.7685 shares per $1,000.
Net proceeds estimated at ~$2,164.2M, or ~$2,459.7M if purchasers exercise options in full; ~$250.3M earmarked for convertible note hedge costs, partly offset by warrant sales.
Proceeds to repay a portion of the $1.15B 0.375% convertible notes due Sept 1, 2027 and to fund Cloud Infrastructure Services capex, remainder for general corporate purposes.
Senior unsecured; interest payable semi-annually May 15 and Nov 15 beginning May 15, 2027; holders may require repurchase at 100% of principal on a fundamental change.

This headline and bullets were generated automatically by deepseek-v4.1-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.