10:59 AM EST, 12/19/2024 (MT Newswires) -- Applied Optoelectronics ( AAOI ) said Thursday it entered into transactions with noteholders to exchange $76.7 million of 5.25% convertible senior notes due 2026 for a combination of convertible senior notes due 2030 and common shares.

The maker of fiber optic cables said the initial conversion rate will be about 23.1 shares per $1,000 principal amount of 2030 notes, equal to an initial conversion price of $43.31 per share, which is a 27.5% premium relative to the stock's last closing price.

The exchange offer will also include a cash component representing accrued interest on notes due 2026 and the value of any fractional shares, according to the company.

Applied Optoelectronics ( AAOI ) expects to close the offering on or about Monday with final terms of the exchanges to be disclosed at pricing.

Shares of the company were down 1.5% in recent trading.

Price: 33.48, Change: -0.49, Percent Change: -1.45