Alphabet prices $44.4B capital raise: $17.8B equity offering, $16.75B convertible preferred, $10B Berkshire private placement

Filed June 4, 2026 · ~2 min read

Key Changes

• high

  Alphabet is offering 25.5M shares each of Class A and Class C common stock for net proceeds of $17.8B, concurrently with $16.75B in mandatory convertible preferred stock offerings (two series, 6.25% dividend, converting to common in ~3 years) and a $10B private placement to Berkshire Hathaway.

  The Offering verify on EDGAR →
• high

  The company is also establishing a $40B at-the-market program to sell Class A and Class C shares over time, with a 60-day lockup or until Q2 2026 earnings are announced. None of the four capital raises are contingent on each other.

  The Offering verify on EDGAR →
• medium

  Net proceeds will be used for general corporate purposes, including potential debt refinancing. The company will not receive proceeds from any secondary sales by selling security holders.

  Use of Proceeds verify on EDGAR →