DigitalOcean Commences $700 Million Public Offering of Common Stock to Fund Infrastructure Expansion and Strengthen Balance Sheet

DigitalOcean has announced a proposed public offering of $700 million in common stock, with the option to purchase an additional $105 million. The net proceeds will be used to invest in infrastructure capacity, pay down debt, and for general corporate purposes. J.P. Morgan, Morgan Stanley, and BofA Securities are acting as joint book-running managers for the offering.