Summary
Oracle Corporation (ORCL) announced a significant financing event through the issuance and sale of 100,000,000 depositary shares representing interests in its 6.50% Series D Mandatory Convertible Preferred Stock. This offering, which closed on February 5, 2026, was conducted under Oracle's existing shelf registration statement. The mandatory convertible preferred stock carries a liquidation preference of $100,000 per share and is designed to automatically convert into Oracle's common stock within a specified range of shares on or around January 15, 2029, based on a volume-weighted average price calculation.
Key Highlights
- 1Oracle successfully closed an offering of 100,000,000 depositary shares of its 6.50% Series D Mandatory Convertible Preferred Stock.
- 2The offering was made under Oracle's shelf registration statement filed in March 2024 and amended in February 2026.
- 3The Mandatory Convertible Preferred Stock has a liquidation preference of $100,000 per share.
- 4The preferred stock accumulates dividends at an annual rate of 6.50%, payable quarterly.
- 5Each share of Mandatory Convertible Preferred Stock is expected to automatically convert into a variable number of Oracle Common Stock shares (between 499.8126 and 624.7657) on or about January 15, 2029.
- 6The conversion ratio into common stock will be determined by the average volume-weighted average price of Oracle's common stock over a 20-day trading period prior to January 15, 2029.
- 7Holders of preferred stock are entitled to a liquidation preference of $100,000 per share plus accumulated dividends before distributions to common stockholders.