- News
23 August 2016
Oclaro eliminates $65m convertible debt
Oclaro Inc of San Jose, CA, USA (which provides components, modules and subsystems for optical communications) says that it has completed the exchanges for all $65m of its 6% convertible senior notes due 2020.
Between 8 and 18 August, Oclaro entered into privately negotiated agreements pursuant to which it (i) issued an aggregate of 34,659,972 shares of its common stock (par value $0.01 per share), and (ii) made a cash payment of $4.7m, in exchange for $65m worth of its 6.00% convertible senior notes due 2020. The shares were issued between 9 and 22 August. As a result of these transactions, Oclaro no longer has any convertible debt outstanding.
Oclaro's revenue grows for fourth consecutive quarter, up 52% year-on-year
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