Akamai raises $3.5B via convertible notes to fund cloud infrastructure expansion

Filed May 22, 2026 · Period ending May 22, 2026 · ~1 min read

Key Changes

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  Completed $3.5B zero-coupon convertible notes offering split equally between 2030 and 2032 maturities, representing a substantial increase in debt load to fund accelerated cloud infrastructure buildout.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
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  2030 notes convert at $201.41/share (42.5% premium) and 2032 notes at $190.81/share (35% premium) versus $141.34 closing price on May 19, 2026; Akamai can settle conversions in cash, stock, or combination.

  Item 8.01 — Other Events verify on EDGAR →
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  Used $350M of proceeds to repurchase 2,476,298 shares at $141.34/share in concurrent transactions with note purchasers, offsetting some dilution risk while signaling management's view on valuation.

  Item 3.02 — Unregistered Sales of Equity Securities verify on EDGAR →