Adtran Issues $201.25M Convertible Senior Notes
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Adtran Holdings, Inc. has issued $201.25 million in 3.75% convertible senior notes due 2030, with an option for initial purchasers to buy an additional $26.25 million. The notes will accrue interest semi-annually and include conversion rights and redemption options. Adtran also entered capped call transactions to mitigate stock dilution. Analysts rate ADTN stock as Hold with a $10.00 price target, while Spark's AI Analyst gives it a Neutral rating, citing financial performance challenges despite strong revenue growth. Current market cap is $760.5M.
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