Summary
Lam Research Corporation (LRCX) filed an 8-K on December 11, 2020, 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. While the specific reasons for the adjustment are not detailed in this filing, it's important for holders of these notes to be aware of this change as it impacts the terms under which the notes can be converted into company stock. Investors holding these convertible notes should review the "Notice of Adjustment of Conversion Rate" attached as Exhibit 99.1 to understand the precise details of the adjustment and its potential implications for their investment. The company is furnishing this information under Regulation FD and clarifies that it is not considered "filed" for purposes of liability under the Securities Exchange Act, nor is it incorporated by reference into other filings unless explicitly stated.
Key Highlights
- 1Lam Research (LRCX) filed an 8-K on December 11, 2020.
- 2The filing pertains to a Regulation FD disclosure.
- 3The company announced an adjustment to the conversion rate of its 2.625% Senior Convertible Notes due 2041.
- 4This adjustment is in accordance with the terms of the indenture dated May 10, 2011.
- 5A "Notice of Adjustment of Conversion Rate" has been distributed to holders of the 2041 Notes.
- 6The notice is included as Exhibit 99.1 to the 8-K filing.
- 7Information furnished under Item 7.01 is not deemed "filed" for liability purposes under Section 18 of the Exchange Act.