SOURCE: Finisar

Finisar

October 29, 2014 16:00 ET

Finisar's 5.0% Convertible Senior Note Holders Elect to Convert Outstanding $40 Million of Notes Into Shares of Common Stock Prior to Redemption Date

SUNNYVALE, CA--(Marketwired - Oct 29, 2014) -  Finisar Corporation (NASDAQ: FNSR), a global technology leader for subsystems and components for fiber optic communications, announced that, prior to scheduled redemption, the holders of all of the Company's outstanding $40 million principal amount 5.0% Convertible Senior Notes due 2029 voluntarily converted such Notes into shares of Finisar commmon stock. Finisar had previously announced that it intended to redeem all such outstanding Notes on October 29, 2014. The Notes were converted at the rate of 93.6768 shares of Finisar's common stock for each $1,000 principal amount of Notes, or a conversion price of approximately $10.68 per share, in accordance with the existing terms of the Notes. An aggregate of aproximately 3.75 million shares of Finisar commmon stock were issued upon such conversion. Such issuance will not increase the number of Finisar fully diluted shares outstanding for financial reporting purposes as such shares were included in the number of Finisar fully diluted shares outstanding in the Company's most recent Quarterly Report on Form 10-Q.

ABOUT FINISAR

Finisar Corporation (NASDAQ: FNSR) is a global technology leader for fiber optic subsystems and components that enable high-speed voice, video and data communications for telecommunications, networking, storage, wireless, and cable TV applications. For 25 years, Finisar has provided critical optics technologies to system manufacturers to meet the increasing demands for network bandwidth. Finisar is headquartered in Sunnyvale, California, USA with R&D, manufacturing sites, and sales offices worldwide. For additional information, visit www.finisar.com.

Finisar-F

Contact Information

  • Investor contact:
    Kurt Adzema
    Chief Financial Officer
    408-542-5050
    Investor.relations@finisar.com

    Press contact:
    Victoria McDonald
    Director, Corporate Communications
    408-542-4261