Historical replay · ORCLB/USD
Oracle's $20 Billion Raise: −11% in a Day (November 2026)
Tokenised Oracle fell 11% from $133.24 to $118.62 on November 2, 2026, after the company filed to raise $20 billion through stock and bonds, days after capping new AI funding at that amount. Replay a capital raise priced in real time.
ORCLB, the Binance token that tracks Oracle shares, started Monday, November 2, above the stock's Friday close of $130.67. Weekend and Asian trading lifted it to $133.24 by the 05:00 UTC hour, as the market looked past Friday's tech sell-off. Five days earlier Oracle had told investors it would limit additional capital raises through fiscal 2030 to $20 billion, and the stock had jumped about 11% that day.
The filings came before the US open: $10 billion of new common stock and $10 billion of senior notes, to fund its AI and cloud build-out. The token fell to $128.84 in the 12:00 UTC hour, as the preliminary prospectus was read, and to $125.48 in the 13:00 hour. The 14:00 hour, which includes the opening bell, was the heaviest of the replay, $115,251 of volume, and took it to $122.55.
There was no relief in the afternoon. The token held around $123 for two hours, then lost ground again in the 17:00 and 18:00 hours on $87,167 and $76,142 of volume and reached $118.62 in the 20:00 hour, 11% below the morning's high. Oracle's shares closed at $119.22, down 8.8%. The stock sale was then priced at $116 for 86.2 million shares, 11.2% below Friday's close, and the bonds in five tranches paying 7% to 8.65%.
The token ended the replay at $119.23, close to the stock's closing price and just above the offering price. The replay shows how a follow-on offering is priced in public: the market marks the stock down toward the level at which institutions will take the new shares before the price is announced, and the announced price then becomes the floor everyone watches. It also shows the cost of surprise: a raise that used, in one go, the whole allowance management had set days earlier.