Financing ·
Cloudflare, Inc. issued $2.50 billion aggregate principal amount of 0% Convertible Senior Notes due 2031 on August 13…
NETCloudflare, Inc.
Cloudflare, Inc. issued $2.50 billion aggregate principal amount of 0% Convertible Senior Notes due 2031 on August 13, 2026, following the full exercise of an over-allotment option for an additional $325 million. The notes carry an initial conversion price of approximately $496.94 per share, representing a 60% premium to the stock's closing price of $310.59 on August 10, 2026. Cloudflare paid $259.5 million for capped call transactions with a cap price of $854.12 to offset potential dilution. Net proceeds were approximately $2.46 billion, intended for general corporate purposes including working capital and acquisitions. The company also amended its revolving credit agreement to adjust leverage ratio calculations by capping unrestricted cash deductions at $2.0 billion. Cloudflare operates in the technology industry, providing cloud-based network services for security, performance, and reliability.