DigitalOcean Holdings Inc. (NYSE: DOCN) announced the pricing of an upsized public offering of 10,389,611 shares of common stock for total gross proceeds of approximately $800 million, according to a company statement.

The cloud infrastructure company increased the offering size from the previously announced $700 million. DigitalOcean granted underwriters a 30-day option to purchase up to an additional 1,558,441 shares at the public offering price, less underwriting discounts and commissions. The offering is expected to close on March 26, 2026, subject to customary closing conditions.

DigitalOcean plans to use the net proceeds to make investments in additional infrastructure capacity beyond what it previously communicated to support customer demand for its cloud and AI platform. The company also intends to strengthen its balance sheet by paying down its existing Term Loan A and for general corporate purposes.

The company stated it is in advanced discussions to secure additional data center capacity to support its growth.

J.P. Morgan, Morgan Stanley and BofA Securities are serving as joint book-running managers for the offering. Goldman Sachs & Co. LLC, Citizens Capital Markets and MUFG are acting as bookrunners, while KeyBanc Capital Markets is serving as co-manager.

The offering is being conducted pursuant to DigitalOcean's effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission.

DigitalOcean describes itself as an AI-focused cloud platform serving more than 640,000 customers with cloud and AI infrastructure services.