Cloudflare shares fell in intraday U.S. trading on Aug. 10 after the company said it plans a $2.175 billion private placement of convertible bonds (debt that can be turned into shares). The stock was down more than 2% at one point, but later narrowed the decline to 0.94%, according to BIT (Bit.com) market data. Cloudflare's market capitalization was temporarily reported at $105.47 billion. Convertible bond offerings can pressure a stock in the short term because investors weigh the added debt and the possibility of future share conversion.