31 October 2014

Finisar's note holders convert outstanding $40m of notes into shares prior to redemption date

Fiber-optic communications subsystem and component maker Finisar Corp says that the holders of all of its outstanding $40m worth of 5.0% convertible senior notes due 2029 have voluntarily converted their notes into shares of Finisar common stock prior to the scheduled redemption date of 29 October (announced on 10 October).

The notes were converted at the rate of 93.6768 shares for each $1000 of notes (a conversion price of about $10.68 per share), in accordance with the existing terms of the notes. A total of about 3.75 million shares of Finisar commmon stock were issued upon conversion.

The issuance will not increase the number of Finisar fully diluted shares outstanding for financial reporting purposes, as such shares were included in the number of Finisar fully diluted shares outstanding in the firm’s most recent quarterly report on Form 10-Q.

See related items:

Finisar announces redemption of 5.0% convertible senior notes due 2029

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