Cloudflare Completes $1.1 Billion Convertible Notes Offering

Technology & Services

Cloudflare convertible notes offering


Summary

Cloudflare, Inc. (“Cloudflare” or the “Company”) (NYSE: NET) recently completed an offering pursuant to Rule 144A of $1.125 billion aggregate principal amount of 0% Convertible Senior Notes due 2026. The size of the offering was increased from the previously announced $1.0 billion offering. Cloudflare also granted the initial purchasers of the notes a 13-day option to purchase up to an additional $168.75 million aggregate principal amount of the notes.

Baird served as a co-manager on this offering.

About

Cloudflare is on a mission to help build a better Internet. Cloudflare’s platform protects and accelerates any Internet application online without adding hardware, installing software, or changing a line of code. Internet properties powered by Cloudflare have all web traffic routed through its intelligent global network, which gets smarter with every request. As a result, they see significant improvement in performance and a decrease in spam and other attacks. Cloudflare is headquartered in San Francisco, California.
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Technology & Services

Cloudflare convertible notes offering

Date
August 2021
Company
Cloudflare, Inc.
Transaction
Equity Capital Markets
Sectors
Technology & Services
Verticals
Application Software
IT Services, Security & Networking
Technology
Media & Telecommunications
Target Location
North America

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