secwatch.observer — SEC 8-K summary
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Issuer:     DigitalOcean Holdings, Inc. (DOCN)
CIK:        0001582961
Form:       8-K
Filed at:   2022-03-30T23:59:59+00:00
Accession:  0001582961-22-000014
Event type: debt
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 2.03, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

DigitalOcean increases revolver to $250M, extends maturity, appoints new CAO
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- Revolving credit limit raised from $150M to $250M; maturity extended to 5 years (or earlier of 90 days before $100M+ convertible maturity).
- Interest rate benchmark switched from LIBOR to SOFR plus 1.25%-2.00% margin, down from 2.00%-4.00% under LIBOR.
- New financial covenant: maximum senior secured net leverage ratio of 3.50x; minimum debt service coverage ratio eliminated.
- Adrienne Calderone appointed SVP, Chief Accounting Officer (principal accounting officer) effective March 28, 2022.
- Foreign subsidiaries added as guarantors; 100% of equity interests pledged as collateral.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1582961/000158296122000014/0001582961-22-000014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1582961/000158296122000014/docn-20220328.htm
  HTML page:      https://secwatch.observer/filing/0001582961-22-000014

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