8-K
filed February 28, 2025, 6:59 PM ET
CIK 0001138639
M&A
confidence high
sentiment neutral
materiality 1.00
Infinera Corp: M&A transaction — Infinera completes merger with Nokia; shareholders get $6.65 cash or 1.7896 Nokia ADSs per share
Infinera Corp
- Merger closed Feb 28, 2025; Infinera becomes wholly owned subsidiary of Nokia.
- Share consideration: $6.65 cash, 1.7896 Nokia ADSs, or mixed; ~58% of stock elections prorated to cash due to 72% election rate.
- 2.50% 2027 and 3.75% 2028 convertible notes now convertible into $4.66 cash + 0.5355 Nokia ADSs per $1,000 principal.
- Company requested delisting from Nasdaq and will file Form 15 to suspend SEC reporting obligations.
- All nine directors resigned effective at the merger close; board replaced per merger agreement.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Roop K. Lakkaraju departed as Director at Infinera Corp.
- Action
- ceased
- Role
- Director
Exact text from the filing
As a result of the Merger and in accordance with the Merger Agreement, at the Effective Time, George A. Riedel, Christine B. Bucklin, Gregory P. Dougherty, David W. Heard, Sharon E. Holt, Roop K. Lakkaraju, Paul J. Milbury, Amy H. Rice and David F. Welch, each of whom was a director of Infinera as of immediately prior to the Effective Time, ceased to be a director of Infinera and a member of any committee of Infinera’s Board of Directors.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Sharon E. Holt departed as Director at Infinera Corp.
- Action
- ceased
- Role
- Director
Exact text from the filing
As a result of the Merger and in accordance with the Merger Agreement, at the Effective Time, George A. Riedel, Christine B. Bucklin, Gregory P. Dougherty, David W. Heard, Sharon E. Holt, Roop K. Lakkaraju, Paul J. Milbury, Amy H. Rice and David F. Welch, each of whom was a director of Infinera as of immediately prior to the Effective Time, ceased to be a director of Infinera and a member of any committee of Infinera’s Board of Directors.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Gregory P. Dougherty departed as Director at Infinera Corp.
- Action
- ceased
- Role
- Director
Exact text from the filing
As a result of the Merger and in accordance with the Merger Agreement, at the Effective Time, George A. Riedel, Christine B. Bucklin, Gregory P. Dougherty, David W. Heard, Sharon E. Holt, Roop K. Lakkaraju, Paul J. Milbury, Amy H. Rice and David F. Welch, each of whom was a director of Infinera as of immediately prior to the Effective Time, ceased to be a director of Infinera and a member of any committee of Infinera’s Board of Directors.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
David W. Heard departed as Director at Infinera Corp.
- Action
- ceased
- Role
- Director
Exact text from the filing
As a result of the Merger and in accordance with the Merger Agreement, at the Effective Time, George A. Riedel, Christine B. Bucklin, Gregory P. Dougherty, David W. Heard, Sharon E. Holt, Roop K. Lakkaraju, Paul J. Milbury, Amy H. Rice and David F. Welch, each of whom was a director of Infinera as of immediately prior to the Effective Time, ceased to be a director of Infinera and a member of any committee of Infinera’s Board of Directors.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Amy H. Rice departed as Director at Infinera Corp.
- Action
- ceased
- Role
- Director
Exact text from the filing
As a result of the Merger and in accordance with the Merger Agreement, at the Effective Time, George A. Riedel, Christine B. Bucklin, Gregory P. Dougherty, David W. Heard, Sharon E. Holt, Roop K. Lakkaraju, Paul J. Milbury, Amy H. Rice and David F. Welch, each of whom was a director of Infinera as of immediately prior to the Effective Time, ceased to be a director of Infinera and a member of any committee of Infinera’s Board of Directors.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Christine B. Bucklin departed as Director at Infinera Corp.
- Action
- ceased
- Role
- Director
Exact text from the filing
As a result of the Merger and in accordance with the Merger Agreement, at the Effective Time, George A. Riedel, Christine B. Bucklin, Gregory P. Dougherty, David W. Heard, Sharon E. Holt, Roop K. Lakkaraju, Paul J. Milbury, Amy H. Rice and David F. Welch, each of whom was a director of Infinera as of immediately prior to the Effective Time, ceased to be a director of Infinera and a member of any committee of Infinera’s Board of Directors.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Paul J. Milbury departed as Director at Infinera Corp.
- Action
- ceased
- Role
- Director
Exact text from the filing
As a result of the Merger and in accordance with the Merger Agreement, at the Effective Time, George A. Riedel, Christine B. Bucklin, Gregory P. Dougherty, David W. Heard, Sharon E. Holt, Roop K. Lakkaraju, Paul J. Milbury, Amy H. Rice and David F. Welch, each of whom was a director of Infinera as of immediately prior to the Effective Time, ceased to be a director of Infinera and a member of any committee of Infinera’s Board of Directors.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
David F. Welch departed as Director at Infinera Corp.
- Action
- ceased
- Role
- Director
Exact text from the filing
As a result of the Merger and in accordance with the Merger Agreement, at the Effective Time, George A. Riedel, Christine B. Bucklin, Gregory P. Dougherty, David W. Heard, Sharon E. Holt, Roop K. Lakkaraju, Paul J. Milbury, Amy H. Rice and David F. Welch, each of whom was a director of Infinera as of immediately prior to the Effective Time, ceased to be a director of Infinera and a member of any committee of Infinera’s Board of Directors.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
George A. Riedel departed as Director at Infinera Corp.
- Action
- ceased
- Role
- Director
Exact text from the filing
As a result of the Merger and in accordance with the Merger Agreement, at the Effective Time, George A. Riedel, Christine B. Bucklin, Gregory P. Dougherty, David W. Heard, Sharon E. Holt, Roop K. Lakkaraju, Paul J. Milbury, Amy H. Rice and David F. Welch, each of whom was a director of Infinera as of immediately prior to the Effective Time, ceased to be a director of Infinera and a member of any committee of Infinera’s Board of Directors.
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Infinera Corp: Bylaws amended and restated in connection with merger.
- Change
- bylaw amendment
Exact text from the filing
At the Effective Time, the certificate of incorporation and bylaws of Infinera were amended and restated in accordance with the terms of the Merger Agreement.
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Infinera Corp: Certificate of incorporation amended and restated in connection with merger.
- Change
- charter amendment
Exact text from the filing
At the Effective Time, the certificate of incorporation and bylaws of Infinera were amended and restated in accordance with the terms of the Merger Agreement.
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
Infinera Corp underwent a change of control involving Nokia Corporation for at the election of the holder, the right to receive one of the following: cash in an amount equal to $6.65, without interest; 1.7896 American Depositary Shares (closed 2025-02-28).
- Action
- change of control
- Counterparty
- Nokia Corporation
- Consideration
- at the election of the holder, the right to receive one of the following: cash in an amount equal to $6.65, without interest; 1.7896 American Depositary Shares
- Closing
- 2025-02-28
Exact text from the filing
Agreement), was automatically cancelled, extinguished and converted into, at the election of the holder, the right to receive one of the following: • cash in an amount equal to $6.65, without interest (the “Cash Consideration”); • 1.7896 American Depositary Shares (each such share, a “Nokia ADS”) (each whole Nokia ADS representing a beneficial interest in one
View on SEC.gov
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