Fastly, Inc. announced its intention to offer $125.0 million aggregate principal amount of convertible senior notes due 2030 in a private offering.
The notes will be senior, unsecured obligations of Fastly, accruing interest payable semi-annually in arrears.
Noteholders will have the right to convert their notes in certain circumstances and during specified periods.
Convertible Senior Notes Offering
Fastly, Inc. plans to offer $125.0 million aggregate principal amount of convertible senior notes due 2030 in a private offering.
Conversion and Redemption Terms
Noteholders have the right to convert their notes in specified periods; notes are redeemable for cash at Fastly's option under certain conditions.
Use of Proceeds
Fastly intends to use the net proceeds for entering into capped call transactions, repurchasing outstanding convertible senior notes, and general corporate purposes.
- The proposed offering aims to raise funds for Fastly, Inc. to support its financial strategies and potentially enhance shareholder value.
- Entering into capped call transactions and repurchasing outstanding notes may influence the trading price of Fastly's Class A Common Stock.
Fastly, Inc.'s announcement of the convertible senior notes offering and strategic use of proceeds demonstrate its focus on financial flexibility and growth objectives.