Lumentum Holdings Inc. (LITE): debt financing — Lumentum prices $603.75M convertible note offering; uses proceeds for debt repurchase and share buyback

Lumentum Holdings Inc.

Issued $603.75M aggregate principal of 1.50% convertible senior notes due 2029, including full exercise of greenshoe option.
Initial conversion rate of 14.3808 shares/$1,000 (conversion price ~$69.54), a 30% premium to June 13 close of $53.49.
Used ~$132.8M of proceeds to repurchase $125M of 0.25% convertible notes due 2024 and ~$125M to buy back common stock.
Net proceeds ~$598.2M after discounts/expenses; remaining for general corporate purposes including potential acquisitions.
Notes are senior unsecured, redeemable after June 22, 2026 if stock price condition met; no sinking fund.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Lumentum Holdings Inc. incurred convertible notes of $603.75 million aggregate principal amount with Goldman Sachs & Co. LLC, as representative of the Initial Purchasers at 1.50% per year maturing December 15, 2029.

Instrument: convertible notes
Principal: $603.75 million aggregate principal amount
Counterparty: Goldman Sachs & Co. LLC, as representative of the Initial Purchasers
Rate: 1.50% per year
Maturity: December 15, 2029
Event: incurrence

Exact text from the filing

to purchase up to an additional $78.75 million aggregate principal amount of the Notes on the same terms and conditions, which was exercised in full on June 14, 2023. A total of $603.75 million aggregate principal amount of Notes were issued on June 16, 2023. The aggregate principal amount of the offering was increased from the previously announced offering size of $500

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Lumentum Holdings Inc. entered into Purchase Agreement with Goldman Sachs & Co. LLC, as representative of the Initial Purchasers valued at $525 million aggregate principal amount of 1.50% Convertible Senior Notes due 2029 (effective 2023-06-13).

Action: entry
Agreement: underwriting
Counterparty: Goldman Sachs & Co. LLC, as representative of the Initial Purchasers
Value: $525 million aggregate principal amount of 1.50% Convertible Senior Notes due 2029
Effective: 2023-06-13

Exact text from the filing

On June 13, 2023, Lumentum Holdings Inc. (the “Company”) entered into a purchase agreement (the “Purchase Agreement”) with Goldman Sachs & Co. LLC, as representative of the Initial Purchasers named in Schedule I thereto (the “Initial Purchasers”), to issue and sell to the Initial Purchasers $525 million aggregate principal amount of 1.50% Convertible Senior Notes due 2029

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Lumentum Holdings Inc. entered into Indenture with U.S. Bank Trust Company, National Association, as trustee (effective 2023-06-16).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association, as trustee
Effective: 2023-06-16

Exact text from the filing

On June 16, 2023, the Company entered into an indenture relating to the issuance of the Notes (the “Indenture”), by and between the Company and U.S. Bank Trust Company, National Association, as trustee

View on SEC.gov

Browse all debt financings →

Lumentum Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-168966

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.