Lumentum issues $750M 0.50% convertible notes due 2028; concurrent $200M stock buyback

Lumentum Holdings Inc.

$750M aggregate principal, 0.50% interest, semi-annual, matures June 15, 2028.
Initial conversion rate 7.6319 shares/$1,000 (conversion price ~$131.03, 32.5% premium over $98.89 close).
Net proceeds ~$743.2M; ~$200M used for concurrent common stock repurchase, remainder for general corporate purposes.
Initial purchasers have 13-day option for additional $112.5M; total could reach $854.8M.
Notes are senior unsecured; redeemable after June 20, 2025 if stock price ≥130% conversion price for 20 of 30 days.

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