Cloudflare Plans $2.175B Convertible Bond Issue Amid 2% Stock Dip

Cloudflare stock dipped over 2% before recovering to a 0.94% loss, with market cap at $105.47B, as it announced a $2.175B private convertible bond issuance.

Woofun AI reports that Cloudflare shares fell more than 2% during trading on August 10, though the decline subsequently narrowed to 0.94%, leaving the market capitalization at $105.47 billion. The firm disclosed intentions to issue $2.175 billion in convertible bonds via a private placement.