secwatch.observer — SEC 8-K summary
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Issuer:     ADTRAN Holdings, Inc. (ADTN)
CIK:        0000926282
Form:       8-K
Filed at:   2025-09-17T23:59:59+00:00
Accession:  0001193125-25-205483
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ADTRAN prices upsized $175M 3.75% convertible notes due 2030; proceeds to repay Wells Fargo borrowings
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- Upsized from $150M to $175M; initial purchasers have option for additional $26.25M.
- Notes bear 3.75% interest, mature Sept 15, 2030; conversion price ~$11.52/share (30% premium over $8.86).
- Net proceeds ~$168.1M; ~$152.8M to repay Adtran, Inc. borrowings under Amended Wells Fargo Credit Agreement.
- Capped call transactions entered to reduce dilution; cap price ~$15.51/share (75% premium).
- Sixth Amendment to credit agreement consents to up to $230M new convertible indebtedness and modifies subline facility.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/926282/000119312525205483/0001193125-25-205483-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/926282/000119312525205483/adtn-20250915.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-205483

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer