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Viavi adjusts conversion rate on 0.625% debentures after spinoff
New York, Aug. 18 – Viavi Solutions Inc. said it adjusted the conversion rate for its 0.625% senior convertible debentures due 2033 to reflect the spinoff of Lumentum Holdings Inc.
The new conversion rate, which was effective as of the close of business on Monday, is 88.6209 shares.
Viavi, formerly JDS Uniphase Corp., spun off its commercial optical products business into Lumentum, distributing 80.1% of the common shares to Viavi stockholders as a special in-kind dividend.
Viavi is a Milpitas, Calif., supplier of software and hardware for networks.
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