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Cloud infrastructure provider DigitalOcean issues convertible preferred notes to raise $550 million.
Golden Finance reported that DigitalOcean, a company listed on the New York Stock Exchange, has announced that it has issued $550 million in convertible preferred notes to qualified institutional buyers and plans to use the funds for general corporate purposes, working capital, operating expenses, and capital expenditures. DigitalOcean is a cloud infrastructure provider based in the United States, offering virtual private servers for software developers, and also co-hosts a portion of Ethereum nodes.