Oracle Prices $20 Billion Stock-and-Bond Offering With $116 Share Sale

Oracle has priced a combined $20 billion stock-and-bond offering that includes a $10 billion common-stock sale at $116 per share, with the financing tied to its fiscal 2027-2030 investment cycle.

The pricing updates Oracle’s earlier plan for a $10 billion share sale with terms inside a broader stock-and-bond package. Oracle set a $20 billion ceiling on additional capital-market funding for fiscal 2027 through fiscal 2030, excluding debt refinancing.

The company may use proceeds for capital spending, debt repayment, investments or acquisitions, dividends and share repurchases. Its borrowings total $125.34 billion, alongside $288 billion in additional lease commitments, nearly all tied to data centers.

Oracle targets at least $225 billion in revenue for fiscal 2030. It expects free cash flow to enter positive territory in the second half of fiscal 2028 and reach at least $30 billion in fiscal 2029.