GoKawiilComprising more than 10.38 million shares, the offering was increased on March 25, up from $700m, and expected to close the following day on March 26.
Cloud provider DigitalOcean is looking to raise $800 million in an underwritten offering.
DigitalOcean will use the funding to invest in additional capacity "beyond what it has already communicated," which will in turn help the company to meet demand for its cloud and AI platform. Additionally, the funding will help to pay down its existing loan and for "general corporate purposes."
Specific expansion details were not provided, but DigitalOcean said it is currently in "advanced discussions" to secure additional data center capacity.
According to DigitalOcean's website, the company had 14 data centers across 11 regions as of March 16, 2026. Those include New York City, San Francisco, Atlanta, and Richmond in the US; Toronto in Canada; London, UK; Singapore; Frankfurt, Germany; Amsterdam, the Netherlands; Bangalore, India; and Sydney, Australia.
The company revealed plans to deploy GPUs at its Atlanta site, which is a Flexential-operated data center, in March 2025. Dubbed "GPU Droplets," the offering is also available in New York City, Toronto, Amsterdam, San Francisco, and Richmond, though this varies GPU-to-GPU.
In August 2025, DigitalOcean offered up to $550m in convertible senior notes, due to expire in 2030. The company was founded in 2011.
J.P. Morgan, Morgan Stanley, and BofA Securities acted as joint book-running managers for the Offering. Goldman Sachs & Co. LLC, Citizens Capital Markets, and MUFG were bookrunners for the Offering. KeyBanc Capital Markets acted as a co-manager for the Offering.