Datadog prices upsized offering of $870M in convertible senior notes

Datadog (DDOG) “announced the pricing of $870M aggregate principal amount of 0% Convertible Senior Notes due 2029 in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The offering size was increased from the previously announced offering size of $775 million aggregate principal amount of notes. Datadog also granted the initial purchasers of the notes an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $130 million aggregate principal amount of notes. The sale of the notes is expected to close on December 12, 2024, subject to customary closing conditions.”