VIAVI SOLUTIONS INC. (NASDAQ:VIAV) Files An 8-K Other EventsItem 8.01. Other Events.
On May23, 2018, Viavi Solutions Inc. (the “Company”) issued a press release announcing the entry into privately negotiated agreements with certain holders of its 0.625% Senior Convertible Notes due 2033 (the “2033 Notes”) to which the Company will exchange $151.5 million aggregate principal amount of 2033 Notes for $155.5 million aggregate principal amount of newly issued 1.75% Senior Convertible Notes due 2023 (the “New Notes”) (the “Exchange Transactions”). The press release also announced the entry into subscription agreements to which the Company has agreed to sell in a private placement to institutional accredited investors $69.5 million aggregate principal amount of New Notes (the “Private Placement”). In exchange for issuing New Notes to the Exchange Transactions, the Company will receive and cancel the exchanged 2033 Notes. The Company intends to use the net cash proceeds from the Private Placement for general corporate purposes. The Exchange Transactions and Private Placement are expected to close concurrently on or about May 29, 2018, subject to customary closing conditions. A copy of the press release is attached as Exhibit 99.1 to this Form 8-K.
Item 8.01. Financial Statements and Exhibits.
(d) Exhibits.
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ExhibitNo. |
Description |
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Press Release issued by VIAVI on May 23, 2018 |
VIAVI SOLUTIONS INC. ExhibitEX-99.1 2 viavq3fy188-kexchangeoffer.htm EXHIBIT 99.1 Exhibit NEWS RELEASEExhibit 99.1VIAVI Announces Private Exchange Transactions Regarding Outstanding 0.625% Senior Convertible Notes due 2033 and Private Placement of $225.0 Million of New Senior Convertible Notes due 2023San Jose,…To view the full exhibit click here
About VIAVI SOLUTIONS INC. (NASDAQ:VIAV)
Viavi Solutions Inc. (Viavi) is a provider of network test, monitoring and assurance solutions to communications service providers, enterprises and their ecosystems. The Company also offers thin film optical coatings, providing light management solutions to anti-counterfeiting, consumer and industrial, government and healthcare and other markets. The Company’s segments include Network Enablement (NE), Service Enablement (SE), and Optical Security and Performance Products (OSP). The NE segment provides testing solutions that access the network to perform build-out and maintenance tasks. The SE segment offers solutions, which are embedded systems that yield network, service and application performance data. The OSP segment provides optical security solutions. The OSP segment’s security offerings for the currency market include Optically Variable Pigment (OVP), Optically Variable Magnetic Pigment (OVMP) and banknote thread substrates.