Akamai plans $2.2B convertible notes offering to refinance debt and fund cloud growth

Akamai Technologies announced a proposed offering of $2.2 billion in convertible senior notes due 2028 and 2031, targeting qualified institutional buyers. The proceeds will be used to repay existing convertible notes maturing in 2027 and to support capital expenditures for its Cloud Infrastructure Services business. The offering includes options to purchase additional notes and involves convertible note hedge and warrant transactions to manage dilution. This move aims to optimize Akamai's capital structure and fund growth initiatives in cloud services.

Akamai Technologies shares are trading near their 52-week low of $77.84, currently priced at $78.70 on Pluang as of Nov 09, 2026 18:41 WIB, down 5.28% on the day. This puts the stock far below its 52-week high of $161.14, reflecting significant volatility over the past year. The market cap stands at $11.94 billion, indicating the scale of the company as it pursues new funding through convertible notes.