Lumentum Holdings Inc. Announces Upsize and Pricing of $525 Million Convertible Notes Offering

Jun 14, 2023

Lumentum Holdings Inc. (“Lumentum”) (NASDAQ: LITE) today announced the pricing of $525 million aggregate principal amount of convertible senior notes due 2029 (the “notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Act”). The aggregate principal amount of the offering was increased from the previously announced offering size of $500 million (or $575 million if the initial purchasers exercise their option to purchase additional notes in full). Lumentum granted the initial purchasers of the notes a 13-day option to purchase up to an additional $78.75 million aggregate principal amount of the notes. The sale of the notes to the initial purchasers is expected to settle on June 16, 2023, subject to customary closing conditions, and is expected to result in approximately $520.1 million (or approximately $598.2 million if the initial purchasers fully exercise their option to purchase additional notes) in net proceeds to Lumentum after deducting the initial purchasers’ discount and estimated offering expenses payable by Lumentum.

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