Summary
Lam Research Corporation (LRCX) filed an 8-K on June 16, 2015, primarily to disclose adjustments to the conversion rates of its outstanding convertible senior notes. These adjustments are pursuant to specific indentures governing the 0.50% Convertible Senior Notes due 2016, the 1.25% Convertible Senior Notes due 2018, and the 2.625% Senior Convertible Notes due 2041 (which were originally issued by Novellus Systems, Inc. and assumed by Lam Research). These adjustments are routine events under the terms of the notes and are triggered by specific corporate actions or market conditions outlined in the respective indentures.
Key Highlights
- 1Lam Research announced adjustments to the conversion rates of three series of its convertible senior notes.
- 2The affected notes include the 0.50% Convertible Senior Notes due 2016.
- 3The 1.25% Convertible Senior Notes due 2018 are also subject to conversion rate adjustments.
- 4The 2.625% Senior Convertible Notes due 2041, originally issued by Novellus Systems, Inc., have also had their conversion rates adjusted.
- 5These adjustments are made in accordance with the terms of the respective indentures governing these notes.
- 6The filing was made to comply with Regulation FD disclosure requirements.
- 7The information provided is being furnished and not deemed 'filed' for purposes of Section 18 of the Exchange Act.