ADTRAN issues $201.25M of 3.75% convertible notes due 2030, enters capped call transactions

ADTRAN Holdings, Inc.

Issued $201.25M aggregate principal of 3.75% convertible senior notes due Sept 15, 2030; includes full $26.25M greenshoe exercise.
Initial conversion rate 86.8206 shares per $1,000 note, conversion price ~$11.52/share, subject to anti-dilution adjustments.
Capped call transactions cost ~$17.6M, cap price ~$15.51/share, designed to reduce potential dilution upon conversion.
Notes are senior unsecured, interest payable semi-annually; redeemable at company's option from Sept 20, 2028 under conditions.
Proceeds from the offering were not specified in the filing but typical for general corporate purposes.

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