Correction - BUZZ - Oracle shares fall after announcing $10 billion stock and $10 billion bond deals

Corrected a typo in the headline, changing "10 million USD" to "10 billion USD".

November 2 - ** Cloud computing company Oracle ORCL.N shares fell 2.9% in pre-market trading to $126.92, as the company plans a large-scale fundraising.

** According to filings with the U.S. Securities and Exchange Commission (SEC), Oracle (ORCL) will sell $10 billion in stock (link) and issue $10 billion in bonds (link).

** The company will use the net funds raised from this simultaneous offering for general corporate purposes, including capital expenditures, debt repayment, acquisitions, cash dividends, and stock buybacks.

** Bank of America is the global coordinator and joint bookrunner for this stock offering, with Wells Fargo, Citigroup, BNP Paribas, Deutsche Bank, and JPMorgan also participating.

** Last week, ORCL stated that as cloud computing capacity is expanded, capital expenditures for this fiscal year and the next are expected to peak (link), but pledged not to raise more than $20 billion in additional funding for AI by fiscal 2030.

** As of market close on Friday, ORCL shares had fallen 33% so far this year.

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