DigitalOcean slides after unveiling $500 million convertible bonds offering
ReutersAug 11, 2025 2:10 PM
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
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