# Oracle prices $20 billion of stock and notes at $116 a share

Oracle sold 86.2 million shares and $10 billion of notes with coupons of 7.000% to 8.650%. Both offerings are set to close Nov. 4.

By The Signal Edition Newsroom | Markets and economy / Deals
Published: 2026-11-03T19:48:39Z
Updated: 2026-11-03T19:48:39Z
Canonical: https://thesignaledition.com/article/oracle-prices-20-billion-stock-and-notes-offering-orc9m4
Image: https://thesignaledition.com/media/782662dc4e41fbdf41fb689eb29323b3.jpg (Oracle Corporation headquarters campus buildings seen from across a lawn; credit: FASTILY / Wikimedia Commons (CC BY-SA 4.0))

## Key points
- Oracle priced 86,206,897 shares of common stock at $116.00 each on Nov. 2, 2026, about $10.0 billion before fees.
- The company also priced $10.0 billion of senior notes in five tranches, with coupons from 7.000% to 8.650% and maturities from 2029 to 2046.
- The $116.00 price is 11.2% below Oracle's $130.67 close on Oct. 30, 2026, the reference price in the prospectus supplement.
- Both offerings are expected to close Nov. 4, 2026, and neither depends on the other.

## What Oracle priced

Oracle Corporation (NYSE: ORCL) announced on Nov. 2, 2026 that it priced two concurrent public offerings totaling $20 billion: 86,206,897 shares of common stock at $116.00 per share and $10 billion of notes. The company said each offering is expected to close on Nov. 4, 2026, subject to customary conditions. [1](https://www.stocktitan.net/news/ORCL/oracle-announces-pricing-of-20-billion-of-common-stock-and-senior-jz9c35ilep3f.html)

Oracle said net proceeds are about $9.9 billion from the stock and about $10.0 billion from the notes, after underwriting discounts and estimated expenses. At $116.00, the shares raise about $10.0 billion before those costs, a figure calculated here from the share count and price in the press release. [1](https://www.stocktitan.net/news/ORCL/oracle-announces-pricing-of-20-billion-of-common-stock-and-senior-jz9c35ilep3f.html)

The stock offering is not contingent on the notes offering, and the notes offering is not contingent on the stock offering. BofA Securities is the sole global coordinator, with Wells Fargo Securities, Citigroup, BNP Paribas, Deutsche Bank Securities, J.P. Morgan, PNC Capital Markets, Goldman Sachs and HSBC among the joint book-running managers. [1](https://www.stocktitan.net/news/ORCL/oracle-announces-pricing-of-20-billion-of-common-stock-and-senior-jz9c35ilep3f.html)

## Terms of the five notes tranches

The notes come in five tranches: $2.0 billion of 7.000% notes due 2029, $1.75 billion of 7.450% notes due 2031, $2.25 billion of 7.850% notes due 2033, $2.5 billion of 8.000% notes due 2037 and $1.5 billion of 8.650% notes due 2046, according to Oracle's press release. [1](https://www.stocktitan.net/news/ORCL/oracle-announces-pricing-of-20-billion-of-common-stock-and-senior-jz9c35ilep3f.html)

Weighted by principal, the average coupon across the five tranches is about 7.77%, a figure calculated here from the tranche sizes and rates above. The financial site 24/7 Wall St. reported that Oracle paid 240 to 335 basis points over U.S. Treasuries. Oracle's release does not state spreads. [1](https://www.stocktitan.net/news/ORCL/oracle-announces-pricing-of-20-billion-of-common-stock-and-senior-jz9c35ilep3f.html) [4](https://247wallst.com/investing/2026/11/03/big-tech-just-tried-to-borrow-more-than-35-billion-in-a-single-day/)

## How the price compares and how many shares are added

Oracle's preliminary prospectus supplement, filed with the Securities and Exchange Commission on Nov. 2, listed the New York Stock Exchange closing price on Oct. 30, 2026 as $130.67. The final price of $116.00 is 11.2% below that close, calculated here from those two figures. [2](https://www.sec.gov/Archives/edgar/data/1341439/000119312526442729/d181425d424b5.htm) [1](https://www.stocktitan.net/news/ORCL/oracle-announces-pricing-of-20-billion-of-common-stock-and-senior-jz9c35ilep3f.html)

The same document said Oracle had 3,023,726,695 shares outstanding as of Aug. 31, 2026. The 86.2 million new shares equal about 2.9% of that count, calculated here from the prospectus and the press release. The release does not mention an option for underwriters to buy additional shares. [2](https://www.sec.gov/Archives/edgar/data/1341439/000119312526442729/d181425d424b5.htm) [1](https://www.stocktitan.net/news/ORCL/oracle-announces-pricing-of-20-billion-of-common-stock-and-senior-jz9c35ilep3f.html)

## Why Oracle is raising the money

Oracle said it may use the proceeds for general corporate purposes, including capital expenditures, repayment of indebtedness, future investments or acquisitions, and dividends or share repurchases. Anadolu Agency reported on Nov. 2 that the company framed the raise around its AI expansion. [1](https://www.stocktitan.net/news/ORCL/oracle-announces-pricing-of-20-billion-of-common-stock-and-senior-jz9c35ilep3f.html) [3](https://www.aa.com.tr/en/world/oracle-plans-20-billion-in-stock-bond-sales-to-fund-ai-expansion/4109007)

Anadolu also reported that at an Oct. 28 investor day Oracle said it would limit additional capital-markets fundraising to $20 billion through fiscal 2030, split evenly between equity and debt, excluding borrowing to refinance existing obligations. It said capital spending is expected to peak in fiscal 2027 and 2028 and that it expects to fund growth internally from fiscal 2029. The $20 billion priced on Nov. 2 matches that cap. [3](https://www.aa.com.tr/en/world/oracle-plans-20-billion-in-stock-bond-sales-to-fund-ai-expansion/4109007)

Reports on the share price reaction conflict. Anadolu said Oracle shares fell about 4.5% after the filing news, while 24/7 Wall St. said they fell 8.85% on Monday, Nov. 2. This article does not rely on either figure. [3](https://www.aa.com.tr/en/world/oracle-plans-20-billion-in-stock-bond-sales-to-fund-ai-expansion/4109007) [4](https://247wallst.com/investing/2026/11/03/big-tech-just-tried-to-borrow-more-than-35-billion-in-a-single-day/)

Large AI-related borrowing was also on the market Nov. 3. 24/7 Wall St. described the day as one in which big technology companies tried to borrow more than $35 billion. The Signal Edition reported on Oct. 26 that Meta had outlined a share-raising plan to fund its own AI buildout. [4](https://247wallst.com/investing/2026/11/03/big-tech-just-tried-to-borrow-more-than-35-billion-in-a-single-day/)

## What happens next

Both offerings are expected to settle on Nov. 4, 2026. 24/7 Wall St. estimated Oracle's next earnings report for Dec. 9, 2026, a date the company has not confirmed. [1](https://www.stocktitan.net/news/ORCL/oracle-announces-pricing-of-20-billion-of-common-stock-and-senior-jz9c35ilep3f.html) [4](https://247wallst.com/investing/2026/11/03/big-tech-just-tried-to-borrow-more-than-35-billion-in-a-single-day/)

## Sources
1. [Oracle (PR Newswire, via StockTitan): Oracle Announces Pricing of $20 Billion of Common Stock and Senior Notes](https://www.stocktitan.net/news/ORCL/oracle-announces-pricing-of-20-billion-of-common-stock-and-senior-jz9c35ilep3f.html) (2026-11-02)
2. [U.S. Securities and Exchange Commission: Oracle Corporation preliminary prospectus supplement (Form 424B5), common stock](https://www.sec.gov/Archives/edgar/data/1341439/000119312526442729/d181425d424b5.htm) (2026-11-02)
3. [Anadolu Agency: Oracle plans $20 billion in stock, bond sales to fund AI expansion](https://www.aa.com.tr/en/world/oracle-plans-20-billion-in-stock-bond-sales-to-fund-ai-expansion/4109007) (2026-11-02)
4. [24/7 Wall St.: Big Tech Just Tried to Borrow More Than $35 Billion in a Single Day](https://247wallst.com/investing/2026/11/03/big-tech-just-tried-to-borrow-more-than-35-billion-in-a-single-day/) (2026-11-03)