Adtran drops after $150 mln convertible bonds sale unveil
ReutersSep 15, 2025 9:33 PM
Shares of networking and communications provider Adtran Holdings ADTN.O down 10% in extended trading to $9.40 after planned capital raise news
Huntsville, Alabama-based firm announces private offering of $150 mln 5-yr convertible bonds
It intends to use net offering proceeds to repay a portion of outstanding borrowings under its credit agreement dated July 18, 2022
Co also plans to use proceeds to pay cost of capped calls, derivative transactions employed to help mitigate dilution
Based on ~80 mln shares outstanding, co has $835 mln market cap
Shares on Mon ended up 3.3% at $10.44, up ~25% YTD
Of 8 analysts covering the stock, 4 rate "strong buy" or "buy" and 4 rate "hold"; median PT of $12 unchanged over the past three months, according to LSEG
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