Akamai Technologies Surges to 58th in Trading Volume with $1.255 Billion Turnover Despite Stock Decline

On May 15, 2025, Akamai Technologies, Inc. (NASDAQ: AKAM) saw a significant increase in trading volume, with a turnover of $1.255 billion, marking a 352.86% rise from the previous day. This surge placed Akamai at the 58th position in terms of trading volume for the day. However, despite the high trading volume, Akamai's stock price experienced a decline, falling by 1.29% over the past two days, resulting in a total decrease of 3.08%.

Akamai Technologies, Inc. recently announced the pricing of its upsized private offering of $1.5 billion in aggregate principal amount of convertible senior notes due 2033. The notes will be sold to qualified institutional buyers under Rule 144A of the Securities Act of 1933. Additionally, Akamai has granted the initial purchasers an option to buy up to an additional $225.0 million in aggregate principal amount of notes on the same terms and conditions. The offering was initially announced at $1.35 billion but was subsequently increased.

The notes will mature on May 15, 2033, unless earlier converted or repurchased. They will bear interest at a rate of 0.25% per year, payable semiannually. The notes are convertible under certain circumstances prior to January 15, 2033, and at any time thereafter until the maturity date. Upon conversion, Akamai will pay cash up to the aggregate principal amount of the notes and may pay or deliver cash, shares of its common stock, or a combination of both for the remainder of the conversion obligation. The initial conversion rate is set at 10.7513 shares of Akamai’s common stock per $1,000 principal amount of notes, equivalent to an initial conversion price of approximately $93.01 per share, representing a premium of approximately 20% to the closing price of Akamai’s common stock on May 14, 2025.

Akamai estimates that the net proceeds from this offering will be approximately $1,479.1 million, or approximately $1,701.3 million if the initial purchasers exercise their option to purchase additional notes in full. The company intends to use the remaining net proceeds to repay borrowings under its revolving credit facility and to repay a portion of its outstanding convertible senior notes due 2027. Additionally, Akamai plans to use approximately $300.0 million of the net proceeds to repurchase shares of its common stock from purchasers of the notes in privately-negotiated transactions.