05:55 PM EST, 12/23/2024 (MT Newswires) -- Applied Optoelectronics ( AAOI ) said late Monday it completed an exchange with holders of its 5.25% convertible senior notes due 2026 of about $76.7 million.

The company exchanged the notes for $125 million of 2.75% convertible senior notes due 2030, about 1.5 million of its shares, and applicable interest.

The firm said it concurrently issued about 1 million shares at $33.97 apiece in a registered direct offering for roughly $33.7 million in estimated net proceeds.

The company said it plans to use the net proceeds for general corporate purposes, among other things.