Summary
Lam Research Corporation (LRCX) filed an 8-K on September 17, 2018, primarily to disclose an adjustment to the conversion rate of its 2.625% Senior Convertible Notes due 2041. This adjustment was made pursuant to the indenture governing these notes, originally issued by Novellus Systems, Inc. While this filing is primarily a procedural disclosure and does not contain new financial results or material business updates, investors holding or considering these specific convertible notes should review the distributed notice. The adjustment of the conversion rate is a key event for convertible note holders as it directly impacts the terms under which the notes can be converted into common stock.
Key Highlights
- 1Lam Research disclosed an adjustment to the conversion rate of its 2.625% Senior Convertible Notes due 2041.
- 2The adjustment is made in accordance with the indenture agreement for these notes, originally issued by Novellus Systems, Inc.
- 3The filing specifically references Exhibit 99.1, which contains the 'Notice of Adjustment of Conversion Rate'.
- 4This 8-K filing is being made under Regulation FD disclosure rules (Item 7.01).
- 5The information furnished is not considered 'filed' for purposes of Section 18 of the Exchange Act, limiting its liability implications.
- 6No new financial statements or other significant exhibits beyond the notice are included in this filing.