DigitalOcean to repurchase up to USD 500 million of 2030 convertible notes

DigitalOcean launched a cash repurchase of up to USD 500 million of its 0.00% convertible senior notes due 2030.

• The repurchase will be funded through a concurrent registered direct offering of common stock to participating noteholders.
• The company expects lower net leverage with minimal change in cash or shares outstanding; repurchased notes will be retired.
• DigitalOcean plans to use its existing share repurchase authorization to buy back any incremental shares issued to eliminate dilution.
• The transactions are expected to close July 23, 2026; the repurchase price is set off a VWAP measure expected July 15, 2026.