Fastly Announces Closing of Initial Purchasers’ Option to Purchase Additional Convertible Senior Notes
Summary
SAN FRANCISCO--(BUSINESS WIRE)--Fastly, Inc. (NYSE: FSLY), announced today that it has issued an additional $123.75 million aggregate principal amount of 0% Convertible Senior Notes due 2026 (the “notes”), for net proceeds of approximately $121.30 million, pursuant to the exercise in full of the initial purchasers’ option in connection with the company’s previously announced private placement (the “offering”) to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). After giving effect to the full exercise of the option, the total aggregate principal amount of notes sold by Fastly in the offering was $948.75 million and net proceeds were approximately $929.10 million, after deducting the initial purchasers’ discounts and commissions and estimated offering expenses payable by Fastly. Fastly may also use a portion of the net proceeds from this offering for acquisitions or strategic investments in complementary businesses or technologies. 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.