Oracle Is Near $10 Billion Share Sale at 11% Discount

(Bloomberg) -- Oracle Corp. is poised to price the sale of $10 billion in shares at an 11% discount, according to people familiar with the matter, after the company's stock price was dinged in a choppy session to start the week.

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The company is expecting to price the offering at $116 per share, the people said, asking not to be identified because the information isn't public. At that level, the pricing would represent a discount from Friday's close at $130.67 before the deal was unveiled.

Deliberations are ongoing and details including the size and pricing could still change, the people said.

The equity sale comes as the company sold $10 billion of bonds on Monday in five tranches, with maturities ranging from three to 20 years, Bloomberg News reported.

Bank of America Corp. was leading both the stock and bond transactions, according to the filings. Representatives for Oracle and Bank of America didn't immediately respond to requests for comment.

Oracle raised billions of dollars this year by selling shares in an effort to diversify the pools of capital it tapped to fund massive AI related spending. The race for cash comes against a backdrop where Anthropic PBC is preparing a potentially record-setting initial public offering and in the wake of blockbuster share sales from the likes of Intel Corp., Alphabet Inc. and Meta Platforms Inc.

The latest offering had attracted demand for well above the amount sought ahead of pricing, after being confidentially marketed to selected existing investors, sovereign wealth funds and long-only investors, Bloomberg News reported.

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