secwatch.observer — SEC 8-K summary
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Issuer:     Fastly, Inc. (FSLY)
CIK:        0001517413
Form:       8-K
Filed at:   2025-12-09T23:59:59+00:00
Accession:  0001517413-25-000343
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1517413/000151741325000343/0001517413-25-000343-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1517413/000151741325000343/fsly-20251203.htm
  HTML page:      https://secwatch.observer/filing/0001517413-25-000343

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