Fastly Announces Repurchase of 0% Convertible Senior Notes Due 2026
Fastly, Inc. (NYSE: FSLY) announced the repurchase of approximately $235.0 million in Convertible Senior Notes due 2026 for about $176.2 million cash. The transaction, tentatively closing on May 31, 2022, will help reduce outstanding debt from $713.8 million post-repurchase. The purchase price may vary based on Fastly's stock performance. This strategic move could influence the stock price in the market.
- Repurchase of $235.0 million in Senior Notes enhances shareholder value.
- Reduction in outstanding debt to $713.8 million post-repurchase.
- Potential positive impact on stock price.
- Cash outflow of approximately $176.2 million could affect liquidity.
- Market price fluctuations could lead to an uncertain final repurchase cost.
This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which the offer, solicitation, or sale would be unlawful prior to the registration or qualification thereof under the securities laws of any such state or jurisdiction.
About Fastly
Fastly is upgrading the internet experience to give people and organizations more control, faster content, and more dynamic applications. By combining the world’s fastest global edge cloud network with powerful software, Fastly helps customers develop, deliver, and secure modern distributed applications and compelling digital experiences. Fastly’s customers include many of the world’s most prominent companies, including Pinterest, The New York Times, and GitHub. For more information on our mission and products, visit https://www.fastly.com/.
Forward-Looking Statements
This press release contains “forward-looking” statements that are based on our beliefs and assumptions and on information currently available to us on the date of this press release. Forward-looking statements may involve known and unknown risks, uncertainties, and other factors that may cause our actual results, performance, or achievements to be materially different from those expressed or implied by the forward-looking statements. These statements include, but are not limited to, statements related to the amount of Notes to be repurchased, the ability to complete the Repurchases on the timeline described herein or at all, the ultimate cash purchase price for the Repurchases, and the impact of the Repurchases on the market price of the common stock. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are: changes in the price of the common stock and changes in the convertible note and other capital markets. Except as required by law, we assume no obligation to update these forward-looking statements publicly or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future. Important factors that could cause our actual results to differ materially are detailed from time to time in the reports Fastly files with the
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View source version on businesswire.com: https://www.businesswire.com/news/home/20220525006087/en/
Investor Contact:
ir@fastly.com
Media Contact:
press@fastly.com
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FAQ
What is the amount Fastly is repurchasing in Convertible Senior Notes?
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