Fastly issues $160M 0% convertible notes due 2030; repurchases $150M of 2026 notes

Fastly, Inc.

Priced $160M upsized offering of 0% convertible senior notes due 2030; initial conversion price ~$15.26 (32.5% premium over $11.52 close).
Net proceeds ~$153.8M; used $16.1M for capped call transactions (cap price $23.04) and ~$148.9M to repurchase $150M of 2026 notes.
Capped calls cover ~10.5M shares (initial conversion rate 65.5136 per $1,000) to reduce potential dilution on conversion.
Initial purchasers granted 13-day option to buy up to additional $20M aggregate principal of notes.
Refinancing extends maturity from 2026 to 2030; 2026 notes repurchased at ~$0.993 on the dollar.

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