-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VlIS+OQBDOLgMASuqspBaYwayTmei5HcfOlQ/WeKjIrGOqlYs3AXn/Hvvy8TZPE+ dbDIUkbOqWqqjJbaKzFXrw== 0000950134-08-019108.txt : 20081103 0000950134-08-019108.hdr.sgml : 20081103 20081103160631 ACCESSION NUMBER: 0000950134-08-019108 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20081103 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20081103 DATE AS OF CHANGE: 20081103 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FINISAR CORP CENTRAL INDEX KEY: 0001094739 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 943038428 STATE OF INCORPORATION: DE FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-27999 FILM NUMBER: 081157615 BUSINESS ADDRESS: STREET 1: 1389 MOFFETT PARK DR CITY: SUNNYVALE STATE: CA ZIP: 94089 BUSINESS PHONE: 4085481000 MAIL ADDRESS: STREET 1: 1389 MOFFETT PARK DR CITY: SUNNYVALE STATE: CA ZIP: 94089 8-K 1 f50364e8vk.htm FORM 8-K e8vk
Table of Contents

 
 
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
Form 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (date of earliest event reported):
November 3, 2008
Finisar Corporation
(Exact name of registrant as specified in its charter)
         
Delaware
(State or other jurisdiction of
incorporation)
  000-27999
(Commission File No.)
  94-3038428
(I.R.S. Employer Identification
No.)
1389 Moffett Park Drive
Sunnyvale, CA 94089

(Address of principal executive offices)
Registrant’s telephone number, including area code:
(408) 548-1000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 


TABLE OF CONTENTS

Item 1.01 Entry into a Material Definitive Agreement
Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant
Item 9.01. Financial Statements and Exhibits
SIGNATURES
EX-99.1


Table of Contents

Item 1.01   Entry into a Material Definitive Agreement.
     On November 3, 2008, Finisar Corporation (the “Company”) issued a press release announcing that it has renewed and extended the term of its credit facilities with Silicon Valley Bank. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 2.03   Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant.
     Reference is made to Item 1.01 of this report regarding the renewal and extension of the Company’s credit facilities.
Item 9.01.   Financial Statements and Exhibits.
     (d) Exhibits
     
Exhibit No.:   Description
 
   
99.1
  Press Release of Finisar Corporation dated November 3, 2008.

2


Table of Contents

SIGNATURES
     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: November 3, 2008
         
  Finisar Corporation
 
 
  By:   /s/ Stephen K. Workman    
    Stephen K. Workman   
    Senior Vice President, Finance and Chief Financial Officer   

3

EX-99.1 2 f50364exv99w1.htm EX-99.1 exv99w1
         
Exhibit 99.1
(FINISAR LOGO)
FINISAR CORPORATION ANNOUNCES RENEWAL/EXTENSION OF
CREDIT FACILITIES AND RETIREMENT OF 5.25% CONVERTIBLE NOTES
SUNNYVALE, CA, Nov 03, 2008 (MARKET WIRE via COMTEX News Network) — Finisar Corporation (NASDAQ: FNSR), a global technology leader for fiber optic subsystems and network test systems, today announced that it has renewed and extended the maturity of its lines of credit totaling $70 million with Silicon Valley Bank. The Company also announced that it has retired, through private repurchases and payment at maturity, the total remaining principal balance of its 5.25% convertible notes, totaling $92 million as of October 15, 2008.
Lines of Credit
The Company’s line of credit under its non-recourse receivables purchase agreement with Silicon Valley Bank has been increased from $10 million to $16 million, and its termination date has been extended from October 24, 2008 to October 24, 2009. Under this credit facility, the Company may sell on a non-recourse basis certain qualifying receivables for cash.
The Company’s line of credit under its letter of credit reimbursement agreement has been reduced from $10 million to $9 million, and its termination date has also been extended from October 24, 2008 to October 24, 2009.
As of August 2, 2008, the end of its most recent fiscal quarter, the Company had used approximately $5 million under the non-recourse receivables purchase line of credit and approximately $9 million under the letter of credit reimbursement agreement.
The Company’s secured line of credit which was to mature on March 13, 2009, has been reduced from $50 million to $45 million and its termination date has been extended to July 15, 2010. The Company has not utilized any portion of this line of credit.
Retirement of 5.25% Convertible Notes
As reported at the Company’s Analyst Day Event in New York on October 7, 2008, the Company purchased approximately $70 million of its 5.25% convertible notes in private cash transactions prior to the notes’ maturity. The remaining principal balance of $22 million was paid at maturity on October 15, 2008.
ABOUT FINISAR
Finisar Corporation (NASDAQ: FNSR) is a global technology leader for fiber optic subsystems and network test systems that enable high-speed voice, video and data communications for networking, storage, wireless, and cable TV applications. For more than 20 years, Finisar has provided critical optics technologies to system manufacturers to meet the increasing demands for network bandwidth and storage. Finisar is headquartered in Sunnyvale, California, USA with R&D, manufacturing sites, and sales offices worldwide. For additional information, visit www.finisar.com.

 


 

ABOUT SILICON VALLEY BANK
Silicon Valley Bank is the premier commercial bank for emerging, growth and mature companies in the technology, life science, private equity and premium wine industries. SVB provides a comprehensive suite of financing solutions, treasury management, corporate investment and international banking services to its clients worldwide. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients’ success. Founded in 1983 and headquartered in Santa Clara, California, the company serves clients around the world through 27 U.S. offices as well as operations in China, India, Israel and the U.K. Silicon Valley Bank is a member of global financial services firm SVB Financial Group (NASDAQ: SIVB), with SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services. More information on the Company can be found at www.svb.com.
Contact:
Steve Workman
Chief Financial Officer
408-548-1000
investor.relations@Finisar.com
Victoria McDonald
Director Public Relations
408-542-4261

 

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