Latham Represents Fastly in Convertible Senior Notes Transactions

Fastly, Inc. (NYSE: FSLY), a leader in global edge cloud platforms, has announced that on December 2, 2024, it entered into separate, privately negotiated subscription agreements pursuant to which Fastly will issue US$150 million aggregate principal amount of its 7.75% convertible senior notes due 2028. Fastly estimates that the gross proceeds from the Issuance will be US$150 million. Fastly intends to use US$150 million of the gross proceeds from the issuance to repurchase approximately US$157.9 million aggregate principal amount of its existing 0.00% convertible senior notes due 2026. Additionally, on December 2, 2024, Fastly entered into separate, privately negotiated repurchase agreements with a limited number of holders of its existing convertible notes to repurchase approximately US$157.9 million aggregate principal amount of the existing convertible notes for aggregate cash consideration of US$150 million. The transactions are expected to settle on or about December 5, 2024, subject to customary closing conditions.

Latham & Watkins LLP represents Fastly in the transactions with a corporate team led by partners Seth Gottlieb, Greg Rodgers, and Richard Kim, with associates Ryan Gold, Raul Gonzalez-Casarrubias, Andrew Bentz, and Casey Tong. Advice was also provided on tax matters by partner Bora Bozkurt, with associate Michael Yu.