Corporate ActionJun 1, 2026, 06:12 AM
Lumentum Exchanges $650.4M Convertible Notes for 5M Shares
AI Summary
Lumentum Holdings Inc. entered into agreements to exchange approximately $650.4 million principal amount of its 0.50% Convertible Senior Notes due 2028 for about 5.0 million shares of common stock. This transaction, expected to close around June 4, 2026, will result in an incremental dilution of approximately 0.8 million shares. Following the exchange, about $172.2 million in Notes will remain outstanding. The company will not receive any cash proceeds, instead canceling the exchanged Notes.
Key Highlights
- Exchanged approximately $650.4 million principal amount of 0.50% Convertible Senior Notes due 2028.
- Will deliver approximately 5.0 million shares of common stock in the exchange transactions.
- Expected to close on or about June 4, 2026.
- Resulted in incremental dilution of approximately 0.8 million shares of common stock.
- Approximately $172.2 million in Notes will remain outstanding post-transaction.
- Company will not receive any cash proceeds from the exchange.
- Transaction conducted as a private placement, exempt from registration.
Price Impact
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