Finisar Announces Redemption of 5.0% Convertible Senior Notes Due 2029
Marketwired(Thu, Oct 9)
SUNNYVALE, CA--(Marketwired - Oct 9, 2014) - Finisar Corporation (NASDAQ: FNSR), a global technology leader for subsystems and components for fiber optic communications, announced today that it has given notice of its intention to redeem all of the outstanding 5.0% Convertible Senior Notes (the "Convertible Notes") due 2029 (CUSIP Numbers 31787AAJ0 and 31787AAK7) on October 29, 2014. As of October 9, 2014, there was approximately $40,015,000 aggregate principal amount of the Convertible Notes outstanding. Unless earlier converted by the holders into shares of Finisar's common stock prior to the redemption date, the Convertible Notes will be redeemed for cash at a redemption price equal to 100% of the principal amount of the Convertible Notes, together with accrued and unpaid interest thereon to, but excluding, the redemption date. Any cash required by Finisar for the redemption will come from cash on hand.
The Convertible Notes are convertible at any time prior to 5:00 p.m., New York City Time, on October 28, 2014, at a rate of 93.6768 shares of Finisar's common stock for each $1,000 principal amount of Convertible Notes, or a Conversion Price of approximately $10.68 per share. As of October 8, 2014, the closing sale price of Finisar common stock, as reported on the NASDAQ Global Select Market, was $15.83 per share.
Wells Fargo Bank, N.A., the trustee for the Convertible Notes, is distributing a Notice of Redemption to all registered holders of the Convertible Notes on October 9, 2014. Copies of such Notice of Redemption and additional information relating to the procedure for redemption and/or conversion of the Convertible Notes may be obtained from Wells Fargo Bank, N.A. by calling (800) 344-5128, Option 0, Attn. Bondholder Communications.
This announcement does not constitute an offer to buy or sell or the solicitation of an offer to sell or buy securities in any jurisdiction.
SAFE HARBOR UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statement concerning Finisar's expected financial performance. ..... |
