Fastly Stock Price, News & Analysis

Fastly, Inc. (NYSE: FSLY) has announced the issuance of an additional $123.75 million in 0% Convertible Senior Notes due 2026, bringing the total offering to $948.75 million with net proceeds of approximately $929.10 million. The notes, which are general unsecured obligations, will mature on March 15, 2026, and will not bear regular interest. Proceeds will be used for working capital and potential acquisitions. The initial conversion rate is 9.7272 shares per $1,000 principal amount, with a conversion price of about $102.80 per share, representing a 45% premium over the last stock price.

Fastly has priced $825 million in 0% Convertible Senior Notes due 2026, increasing from an initial $750 million offering. The private placement is set to close on March 5, 2021, and may total $948.75 million if additional options are exercised. Fastly estimates net proceeds of approximately $807.8 million, earmarked for working capital and potential acquisitions. The notes are convertible under certain conditions, with a conversion rate of 9.7272 shares per $1,000 principal. The company may redeem the notes starting from March 2024, depending on stock performance.

Fastly, Inc. (NYSE: FSLY) announced its intention to offer $750 million in Convertible Senior Notes due 2026 to qualified institutional buyers. An additional $112.5 million may also be available to initial purchasers. The notes will be unsecured, with interest payable semiannually, and can convert into cash or shares of Fastly's common stock. Proceeds will support working capital and potential strategic investments. The offering will not be registered under the Securities Act, limiting its resale options. Fastly emphasizes that it does not currently plan any acquisitions.

Fastly, a leading provider of edge cloud services, announced that CEO Joshua Bixby and CFO Adriel Lares will present at the Morgan Stanley Technology, Media, & Telecom Conference on March 1, 2021, at 1:15 p.m. PT / 4:15 p.m. ET. This event will be accessible through Fastly's Investor Relations website. Fastly's edge platform enhances digital experiences by delivering applications close to end-users, thus improving performance and security. The company serves notable clients like Pinterest, The New York Times, and GitHub.

Fastly, Inc. (NYSE: FSLY) has appointed Brett Shirk as Chief Revenue Officer, effective February 22, 2021. Shirk brings over 25 years of experience in the cloud and security sector, previously serving as Chief Revenue Officer at Rubrik. He will enhance Fastly's global sales and client services strategy, boost international expansion, and strengthen customer relationships. Fastly's CEO Joshua Bixby expressed enthusiasm for Shirk's leadership approach, which aligns with the company’s values. Fastly aims to deliver exceptional digital experiences through its edge cloud platform for prominent clients like Pinterest and The New York Times.

Fastly, Inc. (NYSE: FSLY) reported a strong finish to 2020, with full-year revenue achieving $291 million, marking a 45% increase year-over-year. This growth reflects Fastly's commitment to delivering a complete edge cloud solution amid rising demand for secure and high-performing platforms. CEO Joshua Bixby expressed optimism about their ongoing mission to empower developers as digital transformation accelerates. A Q&A session is scheduled for February 17, 2021, to further discuss financial results and future outlook.

Fastly (NYSE: FSLY) has joined Pledge 1%, a philanthropic movement aimed at integrating community stakeholder involvement in business. Kicking off their inaugural Global Week of Service from Jan. 18-24, Fastly aims to achieve 2,000 employee volunteer hours amidst a backdrop of a 58% decline in corporate volunteerism due to COVID-19. The company emphasizes a commitment to enhancing corporate giving and community engagement through virtual volunteering, in addition to doubling its Open Source and Nonprofit Program services from $25M to $50M. Fastly supports organizations such as Khan Academy and Doctors Without Borders.

Fastly, Inc. (NYSE: FSLY) is set to release its fourth-quarter and fiscal year 2020 financial results on February 17, 2021, after market closure. The company will issue a press release once the quarterly shareholder letter is available on its Investor Relations website. A conference call is scheduled for the same day at 2:00 PM PT / 5:00 PM ET, which can be accessed via phone or live webcast. Fastly specializes in providing an edge cloud platform that facilitates fast and secure digital experiences for customers like Vimeo and The New York Times.

Cyware, a leader in Virtual Cyber Fusion Center technology, announced a follow-on investment in its Series A funding round due to overwhelming demand for its platform. The funding round saw participation from prominent cybersecurity leaders like Greg Clark and Tom Noonan. Cyware aims to enhance its cybersecurity operations by leveraging advanced technologies, including security orchestration and automation, to support teams in optimizing security processes. This follows recent executive appointments to strengthen its leadership and growth strategy.