ARM Purification

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28 February 2019

Applied Optoelectronics announces $70m private offering of convertible senior notes

Applied Optoelectronics Inc (AOI) of Sugar Land, TX, USA – a designer and manufacturer of optical components, modules and equipment for fiber access networks in the Internet data-center, cable TV broadband, fiber-to-the-home (FTTH) and telecom markets – is offering to sell (to qualified institutional buyers, subject to market and other conditions) up to $70m worth of convertible senior notes due 2024. AOI also expects to grant initial purchasers a 30-day option to purchase further notes worth up to $7m. Final terms for the offering will be determined at the time of pricing.

The notes will be convertible at the option of holders at any time until the close of business on the scheduled trading day immediately preceding the maturity date. Upon conversion, holders will receive shares of common stock, together, if applicable, with cash in lieu of any fractional share, at the then-applicable conversion rate.

AOI intends to use part of the net proceeds from the offering to fully repay its capital expenditure loan and real-estate term loan with Branch Banking and Trust Company and to use the remainder for general corporate purposes.

Tags:  Optical transceivers

Visit:  www.ao-inc.com

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