- Fastly, Inc FSLY agreed to repurchase $235 million of its outstanding 0% Convertible Senior Notes due 2026 for $176.2 million in cash, implying a 25% discount.
- The repurchase price is based on Fastly's May 23 closing price of $11.85.
- The transaction is likely to close on May 31, leading to the cancellation of repurchased notes, leaving $713.8 million in aggregate principal amounts of notes outstanding.
- Fastly held $639.7 million in cash and equivalents as of March 31.
- Price Action: FSLY shares traded higher by 13.60% at $12.77 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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