Applied Optoelectronics prices $80.2M of 5.25% convertible notes; exchanges $80.2M of 2024 notes

APPLIED OPTOELECTRONICS, INC.

Priced $80.2M aggregate principal of 5.25% Convertible Senior Notes due Dec 2026; net proceeds ~$76M.
Concurrently exchanged $80.2M of existing 5.00% 2024 Notes for $81.1M cash (incl. accrued interest) and 466,368 shares.
New notes convertible at $15.24/share (initial conversion rate 65.6276 shares per $1,000).
Settlement expected Dec 5, 2023; notes mature Dec 15, 2026, interest payable semi-annually.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

APPLIED OPTOELECTRONICS, INC. entered into Exchange Agreements with certain holders of 5.00% Convertible Senior Notes due 2024 valued at aggregate consideration consisting of approximately $81.1 million in cash and approximately 466,368 (effective 2023-11-30).

Action: entry
Agreement: notes offering
Counterparty: certain holders of 5.00% Convertible Senior Notes due 2024
Value: aggregate consideration consisting of approximately $81.1 million in cash and approximately 466,368
Effective: 2023-11-30

Exact text from the filing

On November 30, 2023, Applied Optoelectronics, Inc. (the “ Company ”) entered into separate, privately negotiated exchange agreements (the “ Exchange Agreements ”) with certain holders (the “ Noteholders ”) of its 5.00% Convertible Senior Notes due 2024 (the “ 2024 Notes ”) to exchange or repurchase approximately $80.2 million principal amount of 2024 Notes for aggregate consideration consisting of approximately $81.1 million in cash, which includes accrued interest on the 2024 Notes, and approximately 466,368 shares (the “ Exchange Shares ”) of the Company’s common stock, par value $0.001 per share (collectively, the “ Exchanges ”).

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APPLIED OPTOELECTRONICS, INC. filing history →

Source: SEC EDGAR

accession 0001104659-23-122604

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