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13.06.25 - 12:03
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Cloudflare, Inc. Announces Pricing of Offering of $1.75 Billion of 0% Convertible Senior Notes Due 2030 (Business Wire)
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SAN FRANCISCO--(BUSINESS WIRE)--Cloudflare, Inc. (“Cloudflare”) (NYSE: NET) today announced the pricing of $1.75 billion aggregate principal amount of Convertible Senior Notes due 2030 (the “notes”) in a private offering (the “offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act of 1933, as amended (the “Securities Act”). Cloudflare also granted the initial purchasers of the notes a 13-day option to purchase up to an additional $250 million aggregate principal amount of the notes solely to cover over-allotments. The sale of the notes to the initial purchasers is expected to settle on June 17, 2025, subject to customary closing conditions, and is expected to result in approximately $1.72 billion in net proceeds to Cloudflare after deducting the initial purchasers' discount and estimated offering expenses payable by Cloudflare (assuming no exercise of the initial purchasers' option to purchase additional n...
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