Ryan Koontz

Christian Schwab

Michael Genovese

Amira Manai

George Notter

Timothy Savageaux

Tim Savageaux

Bill Dezellem

Mike Genovese

William Dezellem

- ADTRAN Holdings, Inc. issued **$201,250,000** aggregate principal amount of its **3.75% convertible senior notes due 2030** on **September 19, 2025**.  **[926282_0001193125-25-211271_adtn-20250919.htm:1]**  This amount includes the full exercise of an option granted to initial purchasers for an additional $26,250,000 aggregate principal amount of notes.  **[926282_0001193125-25-211271_adtn-20250919.htm:1]** 
- The notes are senior, unsecured obligations, accruing interest at a rate of **3.75% per annum**, payable semi-annually in arrears, and will mature on **September 15, 2030**.  **[926282_0001193125-25-211271_adtn-20250919.htm:1]** 
- The initial conversion rate for the notes is **86.8206 shares of common stock per $1,000 principal amount of Notes**, which corresponds to an initial conversion price of **approximately $11.52 per share of common stock**.  **[926282_0001193125-25-211271_adtn-20250919.htm:1]** 
- Noteholders have the right to convert their notes only upon the occurrence of certain events before June 15, 2030, but may convert them at any time from and after June 15, 2030, until two trading days before the maturity date.  **[926282_0001193125-25-211271_adtn-20250919.htm:1]** **[926282_0001193125-25-211271_adtn-ex4_1.htm:46]**

ADTRAN Holdings, Inc. Issues Convertible Senior Notes

- ADTRAN Holdings, Inc. announced a proposed private offering of **$150,000,000** aggregate principal amount of **convertible senior notes due 2030**, with an option for the initial purchaser to buy an additional **$22,500,000** principal amount of notes.  **[926282_cebefdecc188408e96c9968f41be1cf4_0]** 
- These notes will be **senior, unsecured obligations** and will mature on **September 15, 2030**, accruing interest payable semi-annually.  **[926282_cebefdecc188408e96c9968f41be1cf4_0]** 
- The company intends to use the net proceeds to fund **capped call transactions** and to **repay a portion of outstanding borrowings** under its credit agreement.  **[926282_cebefdecc188408e96c9968f41be1cf4_1]** 
- The capped call transactions are expected to **reduce potential dilution** to the company's common stock upon conversion of the notes and/or offset potential cash payments.  **[926282_cebefdecc188408e96c9968f41be1cf4_1]**

ADTRAN Holdings Announces Proposed Convertible Senior Notes Offering

ADTRAN Holdings (ADTN)