Finisar greenshoe exercised, lifting convertibles to $100 million

By Marisa Wong

Milwaukee, Oct. 15 - Finisar Corp. announced that the underwriters of its recent offering of 5% convertible senior notes due 2029 exercised the $10 million over-allotment option in full on Oct. 12.

The Rule 144A sale, totaling $100 million, closed on Thursday, according to an 8-K filed with the Securities and Exchange Commission.

Finisar previously priced the upsized $90 million of 20-year convertible senior notes on Oct. 8 to yield 5% with an initial conversion premium of 25%.

Piper Jaffray & Co. was the bookrunner for the Rule 144A offering.

Proceeds will be used to repurchase debt, including outstanding convertible notes, and for general corporate purposes, including working capital. Finisar may also use a portion of the proceeds to fund, acquire or invest in complementary businesses, products or technologies.

Finisar is a Sunnyvale, Calif.-based maker of fiber optic subsystems.

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