Info
Info
News Article

InP PIC Manufacturer Infinera Announces $135 Million Offering

Holders may require Infinera to repurchase their Notes at a purchase price equal to the principal amount thereof plus accrued and unpaid interest to, but excluding, the repurchase date
Infinera Corporation has announced the pricing of an offering of $135 million aggregate principal amount of its 1.75 percent convertible senior notes due 2018 (the 'Notes').


The Notes are being offered in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the 'Act').


Infinera has granted the initial purchasers a 30-day option to purchase up to an additional $15 million aggregate principal amount of the Notes on the same terms and conditions to cover overallotments, if any. Interest on the Notes will be paid semi-annually at a rate of 1.75percent per year, and the Notes will mature on June 1st, 2018, unless earlier repurchased or converted.


Holders may require Infinera to repurchase their Notes upon a fundamental change at a purchase price equal to the principal amount thereof plus accrued and unpaid interest to, but excluding, the repurchase date. Infinera may not redeem the Notes prior to maturity.


The Notes will be convertible, subject to the satisfaction of certain conditions, into cash, shares of Infinera common stock or a combination thereof, at Infinera's option. The initial conversion rate per $1,000 principal amount of Notes is equivalent to 79.4834 shares of common stock, which is equivalent to a conversion price of approximately $12.58 per share of common stock, subject to adjustment in certain circumstances. This initial conversion price represents a premium of 37.5 percent relative to the last reported sale price on May 23rd, 2013 of Infinera's common stock of $9.15.


Infinera expects to use the net proceeds of the offering for general corporate purposes, including working capital and potential strategic projects.


The offering is expected to close on May 30th, 2013, subject to customary closing conditions.


This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale is unlawful.


The Notes and the shares of common stock issuable upon conversion of the Notes, if any, will not be registered under the Act or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Act and applicable state laws.


 




AngelTech Live III: Join us on 12 April 2021!

AngelTech Live III will be broadcast on 12 April 2021, 10am BST, rebroadcast on 14 April (10am CTT) and 16 April (10am PST) and will feature online versions of the market-leading physical events: CS International and PIC International PLUS a brand new Silicon Semiconductor International Track!

Thanks to the great diversity of the semiconductor industry, we are always chasing new markets and developing a range of exciting technologies.

2021 is no different. Over the last few months interest in deep-UV LEDs has rocketed, due to its capability to disinfect and sanitise areas and combat Covid-19. We shall consider a roadmap for this device, along with technologies for boosting its output.

We shall also look at microLEDs, a display with many wonderful attributes, identifying processes for handling the mass transfer of tiny emitters that hold the key to commercialisation of this technology.

We shall also discuss electrification of transportation, underpinned by wide bandgap power electronics and supported by blue lasers that are ideal for processing copper.

Additional areas we will cover include the development of GaN ICs, to improve the reach of power electronics; the great strides that have been made with gallium oxide; and a look at new materials, such as cubic GaN and AlScN.

Having attracted 1500 delegates over the last 2 online summits, the 3rd event promises to be even bigger and better – with 3 interactive sessions over 1 day and will once again prove to be a key event across the semiconductor and photonic integrated circuits calendar.

So make sure you sign up today and discover the latest cutting edge developments across the compound semiconductor and integrated photonics value chain.

REGISTER FOR FREE

VIEW SESSIONS

Info
×
Search the news archive

To close this popup you can press escape or click the close icon.
×
Logo
×
Register - Step 1

You may choose to subscribe to the Compound Semiconductor Magazine, the Compound Semiconductor Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in:
 
X
Info
X
Info
{taasPodcastNotification}
Live Event