Summary
Lam Research Corporation (LRCX) filed an 8-K on September 15, 2015, to disclose adjustments to the conversion rates of its outstanding convertible senior notes. These adjustments are related to its 0.50% Convertible Senior Notes due 2016, 1.25% Convertible Senior Notes due 2018, and 2.625% Senior Convertible Notes due 2041. The company distributed notices to the respective noteholders detailing these changes as per the terms of the governing indentures. These adjustments to conversion rates can impact the potential dilution to existing shareholders if the notes are converted into common stock. Investors should review the specific details of the notices (Exhibits 99.1, 99.2, and 99.3) to understand the exact nature of the rate changes and their implications for the outstanding convertible debt and potential future share count.
Key Highlights
- 1Lam Research (LRCX) filed an 8-K on September 15, 2015, to announce adjustments to convertible note conversion rates.
- 2The filing pertains to three series of convertible senior notes: 0.50% due 2016, 1.25% due 2018, and 2.625% due 2041.
- 3Notices of these conversion rate adjustments were distributed to the respective noteholders.
- 4The adjustments are made in accordance with the terms outlined in the indentures for each series of notes.
- 5The provided exhibits (99.1, 99.2, 99.3) contain the specific details of these conversion rate adjustments.
- 6The information is provided under Regulation FD and is not deemed 'filed' for liability purposes under Section 18 of the Exchange Act.