DigitalOcean repurchases about $472 million of 0% convertible notes due 2030
DOCN•Repurchase of convertible notes
DigitalOcean closed a repurchase of about $472 million principal of its 0.00% convertible senior notes due 2030.
- The company issued 12,500,000 shares at $117.54 in a registered direct offering to participating noteholders.
- Proceeds from the share sale funded the repurchase.
- About $153 million principal of the 2030 Convertible Notes remains outstanding.
- The transaction was aimed at reducing leverage with minimal cash use.
