Harmonic raises USD 105 mln in convertible notes issue

Wednesday 11 September 2019 | 09:32 CET | News

Harmonic has raised USD 105 million in an issue of convertible notes to institutional investors. The senior debt carries interest of 2.0 percent and is due in 2024. The purchasers have an option to buy another USD 10.5 million of the notes in the next 13 days. 

The initial conversion rate will be 115.5001 shares of Harmonic's common stock per USD 1,000 principal amount of notes, equivalent to an initial conversion price of USD 8.66 per share. This is a premium of 30 percent over the last reported sale price of Harmonic's stock on the Nasdaq market. 

Harmonic may redeem the notes from 06 September 2022, if its share price exceeds 130 percent of the conversion price for at least 20 trading days during any 30 consecutive trading day period.

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Categories: Broadcast & Satellite
Companies: Harmonic
Countries: World
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