Summary
Lam Research Corporation (LRCX) filed an 8-K on December 10, 2018, 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. The specific details of the adjustment are provided in a separate notice distributed to noteholders. Investors holding these convertible notes should review the provided notice for precise details on how the conversion rate has changed. This is a routine disclosure related to the terms of the convertible debt instrument and may be influenced by various factors outlined in the indenture, such as changes in stock price or corporate actions. The filing emphasizes that this information is furnished under Regulation FD and is not considered "filed" for purposes of liability under Section 18 of the Exchange Act.
Key Highlights
- 1Lam Research (LRCX) announced an adjustment to the conversion rate of its 2.625% Senior Convertible Notes due 2041.
- 2The adjustment was made on December 9, 2018, and disclosed on December 10, 2018.
- 3The adjustment is in accordance with the terms of the indenture dated May 10, 2011, between Novellus Systems, Inc. and The Bank of New York Mellon Trust Company, N.A.
- 4A specific Notice of Adjustment of Conversion Rate was distributed to holders of the 2041 Notes.
- 5The company is furnishing this information under Regulation FD, not as a filing subject to Section 18 of the Exchange Act.
- 6No financial statements or other exhibits beyond the Notice of Adjustment were included in this specific filing.