DigitalOcean Holdings, Inc. (NYSE:DOCN) saw a 10.56% drop in stock price on Monday after announcing plans to raise $500 million from convertible senior notes due 2030. The notes will accrue interest semi-annually and mature in 2030, with options to convert to cash or common shares. DOCN plans to use proceeds for transaction costs and repurchasing senior notes due 2026, with any remaining funds for general corporate purposes.

Read more at Yahoo Finance: DigitalOcean (DOCN) Loses 10.56% on $500-Million Notes Issuances