secwatch.observer — SEC 8-K summary
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Issuer:     AKAMAI TECHNOLOGIES INC (AKAM)
CIK:        0001086222
Form:       8-K
Filed at:   2026-11-10T21:23:59+00:00
Accession:  0001193125-26-455539
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 8.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1086222/000119312526455539/0001193125-26-455539-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1086222/000119312526455539/d51061d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-455539

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