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CIENA CORP 8-K Report, Corporate Update (Mar 16, 2015)

Reports
Other Events
Filing Date
Filed March 16, 2015
Period End
March 16, 2015
Security
CIEN
In the record · 2016–202610-K1010-Q338-K105

CIEN filed 10 annual reports (10-K), 33 quarterly reports (10-Q) and 105 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Apr ’16Apr ’16
  2. FY2018 annual report10-K · Dec ’18Dec ’18
  3. Leadership change8-K · Apr ’21Apr ’21
  4. Leadership change8-K · Jun ’25Jun ’25

01—Abstract

Summary

Summary of the 8-K filed March 16, 2015. Cited figures are marked; the original filing is the authoritative source.

Ciena Corporation (CIEN) filed an 8-K on March 16, 2015, to report the maturity of its outstanding 4.0%a Convertible Senior Notes due 2015.

A significant majority of these notes, specifically 96.3% representing approximately $180.6 millionb in principal, were settled through the issuance of Ciena's common stock. This indicates a substantial conversion by noteholders into equity rather than seeking cash repayment. As a result of these conversions and related private exchange transactions, Ciena issued approximately 8.9 million shares of its common stock.

Only a small portion, around $6.9 millionc in aggregate principal, was repaid in cash at maturity. This transaction effectively eliminated a substantial portion of Ciena's convertible debt through equity dilution, which is a key consideration for existing shareholders.

02—Key points

Key Highlights

  1. Ciena Corporation's 4.0% Convertible Senior Notes due 2015 matured on March 15, 2015.
  2. Approximately 96.3% of the outstanding 2015 Notes, totaling $180.6 million in principal, were converted into Ciena common stock.
  3. The company issued approximately 8.9 million shares of common stock to settle these conversions and exchanges.
  4. Only a small amount, approximately $6.9 million in principal, was repaid in cash.
  5. This event significantly reduces Ciena's outstanding convertible debt by converting it into equity.
  6. The majority of noteholders opted for conversion into stock, reflecting their confidence or preference for equity.

03—Questions

Frequently Asked Questions

  1. What happened to Ciena's 2015 Convertible Senior Notes?

    The 4.0% Convertible Senior Notes due 2015 matured on March 15, 2015. The vast majority (96.3%) of these notes were converted by holders into Ciena's common stock, while a small portion was repaid in cash.

  2. How many shares of Ciena stock were issued as a result of this note maturity?

    Ciena issued approximately 8.9 million shares of its common stock to settle the conversions and exchanges of the 2015 Notes.

  3. What was the total value of notes converted into stock?

    Approximately $180.6 million in aggregate principal amount of the 2015 Notes was settled through the issuance of Ciena's common stock.

  4. Did Ciena have to pay cash to redeem these notes?

    Only a minor portion of the notes, approximately $6.9 million in aggregate principal, was repaid in cash at maturity. The substantial majority was settled with Ciena stock.

04—Continue

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