On June 5, 2026, Alphabet Inc. closed an offering of 167.5 million Series A and Series B depositary shares, each representing a 1/20th interest in shares of 6.25% mandatory convertible preferred stock, with a liquidation preference of $1,000 per share. This offering includes an additional 25 million shares for over-allotments and grants holders a conversion rate into Class A and Class C common stock upon liquidation, beginning from August 15, 2026.