05:23 PM EDT, 09/15/2025 (MT Newswires) -- ADTRAN ( ADTN ) said late Monday it plans to offer $150 million of convertible senior notes due 2030 to institutional buyers.

The company said it intends to grant the initial buyer a 13-day overallotment option to purchase up to an additional $22.5 million of notes.

Net proceeds will be used to fund capped call transactions and repay debt under a credit agreement. Any additional net proceeds from the exercise of the overallotment option will be used to cover additional capped call transactions and further pay down debt under the credit agreement, the company said.