Lumentum Holdings Inc. Announces Pricing of $750 Million Convertible Notes Offering – QNT Press Release

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SAN JOSE, Calif., March 3, 2022 /PRNewswire/ — Lumentum Holdings Inc. (“Lumentum”) (NASDAQ:LITE) today announced the pricing of $750 million aggregate principal amount of convertible senior notes due 2028 (the “notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Act”) . Lumentum granted the initial purchasers of the notes a 13-day option to purchase up to an additional $112.5 million aggregate principal amount of the notes. The sale of the notes to the initial purchasers is expected to settle on March 8, 2022subject to customary closing conditions, and is expected to result in approximately $743.2 million (or approximately $854.8 million if the initial purchasers fully exercise their option to purchase additional notes) in net proceeds to Lumentum after deducting the initial purchasers’ discount and estimated offering expenses payable by Lumentum.

The notes will be senior, unsecured obligations of Lumentum. The notes will bear interest at a rate of 0.50% per year. Interest will be payable semi-annually in arrears on June 15 and December 15 of each year, beginning on June 15, 2022. The notes will mature on June 15, 2028unless earlier redeemed, repurchased or converted.

Lumentum intends to use a portion of the net proceeds of the offering to purchase approximately $200 million of its common stock concurrently with the pricing of this offering in privately negotiated transactions effected through one of the initial purchasers of the notes or its affiliate, as Lumentum’s agent. Lumentum intends to use the remaining net proceeds of the offering for general corporate purposes, which may include capital expenditures and working capital.

The initial conversion rate for the notes is 7.6319 shares of Lumentum common stock (“common stock”) per $1,000 principal amount of notes (which is equivalent to an initial conversion price of approximately $131.03 per share) and is subject to adjustment upon …

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