DigitalOcean slides after unveiling $500 million convertible bonds offering

** AI cloud platform DigitalOcean's DOCN.N shares slide 8% to $30.43 in early trading

** DOCN announces offering of $500 million of convertible bonds due 2030 in a private offering

** Proceeds will be used to repurchase portion of its convertible bonds due 2026 and to pay cost of capped calls, derivative transactions to offset dilution

** With 91 million outstanding shares, DOCN has a nearly $3 billion market cap

** 8 of 13 brokerages rate the stock "buy" or higher and 5 "hold"; median PT $38.50 - data compiled by LSEG

** As of last close, DOCN stock down 3% YTD