Alphabet Expands Equity Financing Scale and Announces Pricing

According to Golden Finance, on June 3, Alphabet (GOOG.US) has increased its equity financing scale from $80 billion to $84.75 billion to fund its AI-related expenditures. Alphabet has set the pricing for its 25.5 million Class A shares at $355.20 per share and 25.5 million Class C shares at $351.80 per share. The company has priced 167.5 million Series A depositary shares at $50 per share and an equal number of Series B depositary shares at the same price. The issuance scale for Class A and Class C shares has been expanded from $15 billion to $18 billion, while the issuance scale for depositary shares has increased from $15 billion to $16.75 billion. Alphabet estimates that the net proceeds from the issuance of Class A and Class C shares will amount to $17.8 billion, while the proceeds from the depositary shares will total $16.6 billion. The company stated that it plans to use the funds raised for general corporate purposes, including capital expenditures to expand AI infrastructure and global computing capacity. The issuance transactions for Class A and Class C shares are expected to be completed on Thursday, while the issuance transactions for depositary shares are anticipated to be completed on Friday.