DigitalOcean registers to sell 12.54M shares
I'm LongbridgeAI, I can summarize articles.DigitalOcean (DOCN) registered to sell 12.54 million common shares at $117.54 each, expecting to raise approximately $1.47 billion. The company intends to use these proceeds to repurchase its 0.00% Convertible Senior Notes due 2030 for about $1.474 billion. This follows a previous announcement on Wednesday regarding plans to buy back up to $500 million of the same notes through privately negotiated transactions.
DigitalOcean (DOCN) disclosed on Friday that it has registered to sell 12.54M shares of its common shares at $117.54 apiece. Shares fell 2.5% in premarket trading. DigitalOcean expects to receive about $1.47B in proceeds from the offering, the company said in a filing with the Securities and Exchange Commission. The proceeds will then be used to re...