Fastly issues $150M 7.75% convertible notes due 2028 and repurchases $157.9M of 2026 notes

Fastly, Inc.

Issued $150.0 million principal of 7.75% convertible notes due 2028 with conversion price of $19.74 per share.
Used $150.0 million proceeds to repurchase $157.9 million principal of existing 0.00% convertible notes due 2026.
After transaction, $188.6 million of 2026 notes and $150.0 million of 2028 notes remain outstanding.
J. Wood Capital Advisors plans to buy ~1.3 million shares of FSLY common stock concurrently in private deals.
Interest on new notes is 7.75% annually, first payment due June 1, 2025.

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