secwatch.observer — SEC 8-K summary
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Issuer:     Lumentum Holdings Inc. (LITE)
CIK:        0001633978
Form:       8-K
Filed at:   2023-06-16T23:59:59+00:00
Accession:  0001193125-23-168966
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lumentum prices $603.75M convertible note offering; uses proceeds for debt repurchase and share buyback
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1633978/000119312523168966/0001193125-23-168966-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1633978/000119312523168966/d317553d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-168966

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