Adtran Holdings, Inc. (ADTN) has priced a private offering of $175.0 million convertible senior notes due 2030, up from the initial $150.0 million, with settlement set for September 19. The notes will bear interest at 3.75% per annum and mature on September 15, 2030. The initial conversion price is $11.52 per share, a 30% premium to the closing price on September 16. Proceeds of $168.1 million, or $193.4 million if the option is fully exercised, will be used for capped call transactions and debt repayment. Adtran closed trading at $8.92 on the Nasdaq on Tuesday.

Read more at Nasdaq: Adtran Prices Upsized $175 Mln Private Offering Of 3.75% Convertible Senior Notes Due 2030