Fastly privately negotiates to buy $236.4 million 0% convertible notes

By Mary-Katherine Stinson

Lexington, Ky., May 10 – Fastly Inc. on May 9 entered into separate, privately negotiated transactions to buy around $236.4 million of its 0% convertible senior notes due 2026, according to a press release.

The company will pay $195 million in cash to buy the notes. The exact amount, not yet fully determined, is based on both the $11.78 class A common stock price on May 5 and an amount based on the daily volume-weighted average price during a one-day trading day pricing period after the execution of the agreements.

The repurchases are expected to close on May 15.

After the company cancels the notes, there will be $477.4 million notes outstanding.

Fastly is a San Francisco-based cloud computing services provider.

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