AKAM - Akamai announces proposed offering of convertible senior notes
2023-08-15 05:59:34 ET
- Akamai Technologies Inc ( NASDAQ: AKAM ) Tuesday announced that it proposes to offer $1,000,000,000 in aggregate principal amount of convertible senior notes due 2029.
- The notes are to be sold only to persons reasonably believed to be "qualified institutional buyers" pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act").
- In addition, Akamai will grant the initial purchasers of the notes an option to purchase up to an additional $150,000,000 in aggregate principal amount of notes on the same terms and conditions.
- Interest on the notes will be payable semi-annually in arrears on February 15 and August 15 of each year, beginning on February 15, 2024.
- The notes will mature on February 15, 2029, unless earlier repurchased or converted in accordance with their terms prior to such date.
- Source: Press Release
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Akamai announces proposed offering of convertible senior notes