Finisar Corporation (NASDAQ:FNSR) Files An 8-K Other Events
Item 8.01 Other Events.
to the terms of the 0.50% Convertible Senior Notes due 2033 (the “Notes”) of Finisar Corporation (the “Company”) and the indenture governing the Notes, holders of all of the $258,750,000 outstanding principal amount of the Notes had an option to require the Company to repurchase on December 15, 2018 (the “Repurchase Date”) all or a portion of such holders’ Notes (the “Put Option”) at a price equal to 50% of the principal amount of such Notes, plus accrued and unpaid interest to, but excluding, the Repurchase Date.
The Put Option expired at the close of business on December 14, 2018. As of the expiration of the Put Option, the Company had received valid Put Option exercise notices from holders that required the Company to repurchase $257,696,000 aggregate principal amount of Notes.
The Company settled the Put Option on December 17, 2018 and paid an aggregate of $258,340,240 to repurchase all of the Notes for which Put Option exercises notices were validly delivered and not validly withdrawn. Immediately following the settlement of the Put Option, the repurchased Notes were canceled and $1,054,000 principal amount of Notes remained outstanding.
About Finisar Corporation (NASDAQ:FNSR)
Finisar Corporation (Finisar) is a provider of optical subsystems and components that are used in data communication and telecommunication applications. The Company’s optical subsystems consist of transmitters, receivers, transceivers, transponders and active optical cables, which provide the fundamental optical-electrical or optoelectronic interface for interconnecting the electronic equipment used in these networks, including the switches, routers, and servers used in wireline networks. These products rely on the use of semiconductor lasers and photodetectors in conjunction with integrated circuits and optoelectronic packaging to provide a means for transmitting and receiving digital signals over fiber optic cable at speeds ranging from less than one gigabit per second (Gbps), to more than 100 Gbps, over distances of less than 10 meters to more than 2,000 kilometers, using a range of network protocols and physical configurations.