Fastly Prices $825 Million 0% Convertible Senior Notes Offering (up 45% Conversion Premium)
Summary
SAN FRANCISCO--(BUSINESS WIRE)--Fastly, Inc. (NYSE: FSLY), announced today the pricing of $825 million aggregate principal amount of 0% Convertible Senior Notes due 2026 (the “notes”) in a private placement (the “offering”) to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Fastly may also use a portion of the net proceeds from this offering for acquisitions or strategic investments in complementary businesses or technologies. Fastly may redeem for cash all or any portion of the notes, at its option, on or after March 20, 2024 if the last reported sale price of Fastly’s common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which Fastly provides notice of redemption at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid special interest, if any, to, but excluding, the redemption date. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from Fastly’s plans. Fastly undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.