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ADTRAN Holdings Prices $175 Million Convertible Senior Notes Offering

BY MT Newswires | CORPORATE | 09/17/25 05:33 AM EDT

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.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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