05:33 AM EDT, 09/17/2025 (MT Newswires) -- ADTRAN Holdings ( ADTN ) said Wednesday that it priced its private offering of $175 million of 3.75% convertible senior unsecured notes due Sept. 15, 2030, upsized from $150 million.

The company also granted the initial purchasers a 13-day option to buy up to an additional about $26.3 million of notes. The issuance and sale of the notes is expected to settle on Friday.

The initial conversion rate is 86.8206 common shares per $1,000 of notes, which represents an initial conversion price of about $11.52 per share.

The company said it plans to use the net proceeds primarily to fund the cost of entering certain capped call transactions and to repay outstanding borrowings under its credit agreement dated July 18, 2022.