DigitalOcean Announces Repurchase of Up to $500.0 Million Aggregate Principal Amount of 2030 Convertible Senior Notes. The Transaction Will Be Funded by a Concurrent Registered Direct Offering of Common Stock.

DigitalOcean plans to repurchase up to $500 million of its 0.00% convertible senior notes due 2030, a move aimed at reducing net leverage and removing the overhang of the convertible instrument. The repurchase will be funded by a concurrent registered direct offering of common stock, with the company noting that shares issued will be largely offset by the retirement of the underlying shares in the notes.

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