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Cloudflare Seeks to Sell $2.175 Billion in Convertible Notes
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Cybersecurity Cloudflare Seeks to Sell $2.175 Billion in Convertible Notes Cloudflare Inc. announced plans for a private offering of $2.175 billion of senior convertible notes, after the cybersecurity firm’s guidance boost last week sent shares to an intraday high. The notes, which will mature in 2031, are convertible into cash or the company’s common stock, the company said in a Monday statement. Cloudflare plans to use the proceeds for general purposes, as well as to cover the cost of...
Cybersecurity
Cloudflare Seeks to Sell $2.175 Billion in Convertible Notes
Cloudflare Inc. announced plans for a private offering of $2.175 billion of senior convertible notes, after the cybersecurity firm’s guidance boost last week sent shares to an intraday high.
The notes, which will mature in 2031, are convertible into cash or the company’s common stock, the company said in a Monday statement. Cloudflare plans to use the proceeds for general purposes, as well as to cover the cost of derivative transactions it’s taking on as part of the offering.