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Harmonic -4.2% on $105M convertible debt offering

Sep. 10, 2019 5:07 PM ETHarmonic Inc. (HLIT) StockHLITBy: Jason Aycock, SA News Editor
  • Harmonic (NASDAQ:HLIT) is down 4.2% postmarket after proposing a private offering of $105M in convertible debt.
  • The proposed offering is for convertible senior unsecured notes due 2024.
  • Initial purchasers will get a 13-day option to buy up to an additional $10.5M worth of the notes.
  • They'll be convertible into cash or a combination of cash and stock at Harmonic's election.
  • Net proceeds would go to repurchasing part of the company's outstanding 4% convertible senior notes due 2020.

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