Oracle Launches $10 Billion Stock Sale Alongside $10 Billion Notes Offering
The share price and final terms are not yet set, and neither offering depends on the other closing.
Oracle, which sells business software, cloud services and hardware, launched an offering of $10 billion of common stock on Monday, alongside a separate $10 billion senior notes sale. Pricing and final terms of the stock deal are still to come.
What the share count looks like
The preliminary prospectus supplement assumes Oracle sells 76,528,659 shares at $130.67, the October 30 closing price on the New York Stock Exchange. On that assumption, 3,100,255,354 shares would be outstanding after the offering, up from 3,023,726,695 as of August 31, 2026.
The actual number of shares issued will depend on the sale price. The proceeds are meant for general corporate purposes, which the company says "may include capital expenditures, repayment of indebtedness, future investments or acquisitions and payment of cash dividends on or repurchases of our common stock." The same use applies to the notes proceeds if that deal completes.
Two deals, no link between them
The stock offering and the notes offering are each independent of the other. Oracle said it cannot assure that the notes deal will be completed on the described terms, or at all, so the stock sale could close without it. The common stock would rank junior to the notes.
BofA Securities is global coordinator and joint book-running manager. Wells Fargo Securities, Citigroup, BNP Paribas, Deutsche Bank Securities, J.P. Morgan, PNC Capital Markets, BTIG, Goldman Sachs, HSBC, Lloyds Securities and SMBC Nikko are also joint book-runners.
A $236.1 billion debt load
Oracle had about $236.1 billion in consolidated debt as of August 31, 2026, which ranks ahead of the common stock, the prospectus says. It could borrow up to another $19.7 billion under its revolving credit facility and commercial paper program.
At its October 28 investor day, Oracle said it would cap additional capital-markets funding through fiscal 2030 at $20 billion, split between equity and gross debt. That cap excludes refinancing and follows a separate $20 billion equity raise completed in the first quarter of fiscal 2027.
Oracle's stock closed at $130.67 on October 30, giving it a market value of about $396.1 billion.
The offering's price, final share count and delivery date will be set when it prices.
Sources
- Form 424B5 — ORACLE CORP (ORCL) — SEC EDGAR
- Oracle Stocks Decline 6.17% With Funding Ceiling Excluding Debt Refinancing — Yahoo Finance
- Oracle Corporation (ORCL) Analyst/Investor Day Transcript | Seeking Alpha — seekingalpha.com
- BofA Spots Rare Opportunity Hidden in Stock Market Selloff — Yahoo Finance
- META, AMZN, ORCL, GOOGL In Focus: Big Tech Bonds Offer Better Opportunity Than Stocks, BofA Says — Yahoo Finance
- Oracle is selling $10 billion in bonds after capping new debt — qz.com
