Fastly Announces Conversion of Class B Common Stock into Class A Common Stock
July 12 2021 - 6:01PM
Business Wire
Fastly, Inc. (NYSE: FSLY), provider of an edge cloud platform,
today announced that all outstanding shares of its Class B common
stock automatically converted into Class A common stock on a
one-for-one basis, effective at 5:00 p.m. ET on July 12, 2021. The
conversion had no effect on the economic rights of holders of
shares of Class A common stock or Class B common stock, except for
the elimination of the different voting powers of the two classes
of stock. Fastly does not expect it to have any material effect on
its future operations.
The conversion occurred automatically pursuant to Fastly's
certificate of incorporation as a result of the number of
outstanding shares of Class B common stock representing less than
ten percent (10%) of the aggregate number of shares of the then
outstanding Class A common stock and Class B common stock as of
October 12, 2020, nine months prior to the date of conversion. The
former holders of Class B common stock now have Class A common
stock with the same voting powers, preferences, rights and
qualifications, limitations and restrictions as the Class A common
stock. All shares of Fastly's outstanding capital stock are now
entitled to one vote per share.
Fastly filed a certificate with the Delaware Secretary of State
on July 12, 2021 effecting the retirement of the Class B shares.
Immediately following the conversion, there were approximately
116,593,020 shares of Class A common stock outstanding.
No stockholder action is required in connection with the
conversion. Any existing stock certificates validly issued for
shares of the company's Class B common stock will represent shares
of the Class A common stock, and shares held in brokerage accounts
or with the Company’s transfer agent will be automatically adjusted
to reflect the change. In connection with the conversion, Fastly's
Class A common stock will continue to trade on The New York Stock
Exchange under the ticker symbol “FSLY” and will maintain the same
CUSIP number previously assigned to the Class A common stock.
About Fastly
Fastly helps people stay better connected with the things they
love. Fastly’s edge cloud platform enables customers to create
great digital experiences quickly, securely, and reliably by
processing, serving, and securing our customers’ applications as
close to their end-users as possible — at the edge of the internet.
Fastly’s platform is designed to take advantage of the modern
internet, to be programmable, and to support agile software
development with unmatched visibility and minimal latency,
empowering developers to innovate with both performance and
security. Fastly’s customers include many of the world’s most
prominent companies, including Pinterest, The New York Times, and
GitHub.
Source: Fastly, Inc.
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Investor Contact: ir@fastly.com
Media Contact: press@fastly.com
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