Fastly Prices $160 Mln Convertible Notes Offering

(RTTNews) - Fastly, Inc. (FSLY), a cloud computing company, on Friday priced a $160 million private offering of 0% convertible senior notes due 2030, upsized from $125 million.

Initial purchasers have a 13-day option to buy an additional $20 million. Settlement is expected on December 9.

The notes mature on December 15, 2030 and are convertible at an initial price of $15.26 per share, a 32.5% premium to the December 4 close.

The company can redeem the notes on or after December 20, 2028 if its share price exceeds 130% of the conversion price.

The company expected net proceeds of $153.8 million, or $173.2 million if the option is exercised. About $16.1 million will fund capped call transactions, and the remainder along with cash on hand, will be used to repurchase $150 million of its 0% convertible senior notes due 2026.

The capped call transactions, with a cap price of $23.04, are designed to reduce potential dilution.

Fastly closed the regular trading session on December 05, 2025, at $11.52, down $0.22 or 1.87%. Later, in overnight trading, the share price declined to $11.51, down $0.01 or 0.09%, as of 12.19 AM EST.