The cloud infrastructure firm will repurchase up to $500M of its 2030 convertible notes using proceeds from a common stock offering.
DigitalOcean announced plans to repurchase up to $500M of its 0.00% convertible senior notes due 2030 through privately negotiated transactions. The move will be financed by a registered direct offering of common stock, the company said.
The notes were originally issued to fund operations and general corporate purposes. No details on the size or pricing of the stock offering were disclosed. The repurchase reflects efforts to manage debt and optimize capital structure.
Shares of DOCN were inactive in after-hours trading following the announcement.