secwatch.observer — SEC 8-K summary
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Issuer:     VIAVI SOLUTIONS INC. (VIAV)
CIK:        0000912093
Form:       8-K
Filed at:   2023-03-02T23:59:59+00:00
Accession:  0000912093-23-000014
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Viavi issues $250M in 1.625% convertible notes due 2026, exchanges $128M of 2024 notes
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- Issued $250M aggregate principal of 1.625% Senior Convertible Notes due 2026; initial conversion price ~$13.19/share (22.5% premium over $10.77 close).
- Exchange of ~$132M new notes for ~$128M of existing 1.00% 2024 notes; ~$96M of 2024 notes remain outstanding.
- Subscription transactions raise ~$118M cash; net proceeds for general corporate purposes including debt retirement.
- Company expects to repurchase up to $30M of common stock from certain institutional investors in connection with the issuance.
- Transactions expected to close on or about March 6, 2023, subject to customary conditions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/912093/000091209323000014/0000912093-23-000014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/912093/000091209323000014/viav-20230302.htm
  HTML page:      https://secwatch.observer/filing/0000912093-23-000014

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer