[8-K] Viavi Solutions Inc. Reports Material Event

Rhea-AI Filing Summary

Viavi Solutions Inc. filed an 8-K reporting a material event and furnished two exhibits: an indenture dated August 20, 2025 between the company and U.S. Bank Trust Company, National Association as trustee, and the form of 0.625% Senior Convertible Notes due 2031 (included as part of the indenture). The filing lists the company’s principal contact information and is signed by Ilan Daskal, Chief Financial Officer, as the duly authorized officer. The exhibits indicate the company has documented the legal framework and the note terms for a convertible debt instrument carrying a stated interest rate of 0.625% and a 2031 maturity.

Positive

• Indenture and note form were furnished, establishing formal legal documentation for the convertible notes
• Stated coupon of 0.625% and maturity year 2031 are explicitly disclosed in the note form

Negative

• None.

Insights

Corporate Finance Analyst

TL;DR: The company furnished an indenture and the form of a 0.625% senior convertible note due 2031, documenting a convertible debt instrument.

The filing is limited to exhibits that establish the legal terms for a convertible note issuance: an indenture with a trustee and the form of the 0.625% Senior Convertible Notes due 2031. These documents typically set contractual terms such as interest rate, maturity and conversion mechanics; however, the 8-K text provided does not include issuance size, conversion price, settlement method or expected use of proceeds, so material financing details remain unspecified in the supplied content. For investors, the key confirmed facts are the existence of the indenture and the stated coupon and maturity in the note form.

Securities & Debt Markets Specialist

TL;DR: Legal documentation for a convertible debt instrument was filed; substantive economic details beyond coupon and maturity are not provided here.

The exhibits listed — an indenture and the form of the 0.625% Senior Convertible Notes due 2031 — are foundational legal documents for a debt offering. The filing names the trustee and includes the note's stated interest rate and maturity year. Absent from the provided content are the principal amount, conversion terms, issuance date, and settlement mechanics, so the market impact cannot be fully assessed from this filing alone.

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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): August 20, 2025

VIAVI SOLUTIONS INC.

(Exact name of Registrant as specified in its charter)

Delaware		000-22874		94-2579683
(State or other jurisdiction of incorporation or organization)		(Commission file number)		(IRS Employer Identification Number)

1445 South Spectrum Blvd, Suite 102 Chandler, Arizona 85286

(Address of principal executive offices and Zip Code)

(408) 404-3600

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol		Name of the exchange on which registered
Common Stock, par value of $0.001 per share		VIAV		The Nasdaq Stock Market LLC

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:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company. ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement.

On August 20, 2025, in connection with the consummation of previously announced private transactions, Viavi Solutions Inc. (the “Company”) issued $250 million aggregate principal amount of its 0.625% Senior Convertible Notes due 2031 (the “New Notes”) under an Indenture, dated August 20, 2025 (the “Indenture”), between the Company and U.S. Bank Trust Company, National Association, as trustee.

The Company issued approximately $100.9 million aggregate principal amount of New Notes in exchange for approximately $97.5 million aggregate principal amount of its 1.625% Senior Convertible Notes due 2026 (the “2026 Notes”) pursuant to privately negotiated agreements entered into with certain holders of 2026 Notes (the “Exchange Transactions”). The Company also issued and sold approximately $149.1 million aggregate principal amount of New Notes for cash pursuant to privately negotiated agreements (the “Subscription Transactions” and, together with the Exchange Transactions, the “Transactions”).

The New Notes were offered, issued and sold in the Transactions to investors who represented that they are institutional “accredited investors” within the meaning of Rule 501 of Regulation D under the Securities Act of 1933, as amended (the “Securities Act”), and “qualified institutional buyers” as defined in Rule 144A promulgated under the Securities Act in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act. Any shares of the Company’s common stock that may be issued upon conversion of the New Notes will be issued in reliance upon Section 3(a)(9) of the Securities Act as involving an exchange by the Company exclusively with its security holders. The offer and sale of the New Notes have not been registered under the Securities Act, or any state securities laws, and unless so registered, the New Notes may not be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

In exchange for issuing New Notes pursuant to the Exchange Transactions, the Company received and cancelled the exchanged 2026 Notes. The Company received gross cash proceeds from the Subscription Transactions of approximately $149.1 million, excluding fees and expenses payable by the Company in connection with the Transactions. The Company expects to use the net proceeds from the Subscription Transactions to repay a portion of the 2026 Notes upon maturity.

The New Notes will mature on March 1, 2031, unless earlier converted, redeemed or repurchased. The New Notes are the Company’s general senior unsecured obligations and rank equal in right of payment with all of the Company’s existing and future unsecured, unsubordinated indebtedness, including the outstanding 2026 Notes that were not exchanged for New Notes in the Exchange Transactions, and senior in right of payment to any indebtedness that is contractually subordinated to the New Notes.

The Company will pay interest on the New Notes at an annual rate of 0.625% payable in cash semiannually in arrears on March 1 and September 1 of each year, beginning March 1, 2026. The holders of the New Notes may convert the New Notes into cash and shares of the Company’s common stock, if any, based upon an initial conversion rate of 72.5295 shares of the Company’s common stock per $1,000 principal amount of New Notes (which is equal to an initial conversion price of approximately $13.79 per share of the Company’s common stock, representing an approximately 25% conversion premium based on the closing price of $11.03 per share of the Company’s common stock on August 13, 2025), subject to adjustment as provided for in the Indenture. Initially, a maximum of 22,665,450 shares of the Company’s common stock may be issued upon conversion of the New Notes based on the maximum conversion rate for the New Notes, which is subject to customary anti-dilution adjustments.

The New Notes may be converted at any time on or prior to the close of business on the business day immediately preceding December 1, 2030, in multiples of $1,000 principal amount, at the option of the holder only under the following circumstances: (i) on any date during any calendar quarter beginning after December 31, 2025 (and only during such calendar quarter) if the closing price of the Company’s common stock was more than 130% of the then current conversion price for at least 20 trading days (whether or not consecutive) during the 30 consecutive trading-day period ending on the last trading day of the previous calendar quarter, (ii) upon the occurrence of specified corporate events, (iii) if the Company is party to a specified transaction, a fundamental change or a make-whole fundamental change (each as defined in the Indenture), (iv) during the five consecutive business-day period immediately following any 10 consecutive trading-day period in in which the trading price per $1,000 principal amount of the New Notes for each day during such 10 consecutive trading-day period was less than 98% of the product of the closing sale price of the Company’s common stock and the applicable conversion rate on such date, or (v) if the Company calls any or all of the New Notes for redemption (solely with respect to New Notes called for redemption). During the periods from, and including, December 1, 2030 until the close of business on the business day immediately preceding the maturity date, holders of the New Notes may convert the New Notes regardless of the circumstances described in the immediately preceding sentence.

Holders of the New Notes may require the Company to repurchase for cash all or a portion of the New Notes upon the occurrence of a fundamental change (as defined in the Indenture) at a repurchase price equal to 100% of the principal amount of the New Notes to be repurchased, plus accrued and unpaid interest up to, but excluding, the date of repurchase.  In addition, if certain make-whole fundamental changes occur or the Company calls all or a portion of the New Notes for redemption, the Company will, in certain circumstances, increase the conversion rate for any New Notes converted in connection with such make-whole fundamental change or redemption.

The Company may not redeem the New Notes prior to September 6, 2028. The Company may redeem for cash all or part of the New Notes, at its option, on or after September 6, 2028 if the closing sale price of the Company’s common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides the redemption notice in accordance with the Indenture.  If the Company redeems less than all the outstanding New Notes, at least $75 million aggregate principal amount of New Notes must be outstanding and not subject to redemption as of the relevant redemption notice date.

The Indenture provides for customary events of default, including payment defaults, breaches of covenants, failure to pay certain judgments and certain events of bankruptcy, insolvency and reorganization. If an event of default occurs and is continuing, the principal amount of the New Notes, plus accrued and unpaid interest, if any, may be declared immediately due and payable, subject to certain conditions set forth in the Indenture. These amounts automatically become due and payable if an event of default relating to certain events of bankruptcy, insolvency or reorganization occurs.

The foregoing description of the Indenture and the New Notes does not purport to be complete and is qualified in its entirety by reference to the full text of the Indenture and the Form of the New Notes (a form of which is attached as an exhibit to the Indenture), filed as Exhibit 4.1 and Exhibit 4.2, respectively, hereto and 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.

The information set forth under Item 1.01 of this Current Report is incorporated herein by reference.

Item 3.02 Unregistered Sales of Equity Securities.

The information set forth under Item 1.01 of this Current Report is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.		Description
4.1		Indenture, dated as of August 20, 2025, between Viavi Solutions Inc. and U.S. Bank Trust Company, National Association, as Trustee.
4.2		Form of 0.625% Senior Convertible Notes due 2031 (included as part of Exhibit 4.1).
104		Cover Page Interactive Data File - the cover page iXBRL tags are embedded within the Inline XBRL document.

Signature

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.

	VIAVI SOLUTIONS INC.
	By:		/s/ Ilan Daskal
	Name:		Ilan Daskal
	Title:		Chief Financial Officer
			(Duly Authorized Officer and Principal Financial and Accounting Officer)

August 25, 2025

FAQ

What did Viavi (VIAV) file in this 8-K?

The company furnished an indenture dated August 20, 2025 and the form of 0.625% Senior Convertible Notes due 2031 as exhibits to the filing.

What interest rate is specified for the convertible notes?

The form of the notes attached to the filing specifies an interest rate of 0.625%.

When do the convertible notes mature according to the filing?

The note form in the filing states a maturity year of 2031.

Who is the trustee named in the indenture?

The indenture is between Viavi Solutions Inc. and U.S. Bank Trust Company, National Association as trustee.

Does the 8-K disclose the principal amount or conversion terms of the notes?

No. The provided content does not state the principal amount, conversion price, or other economic issuance details.