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Why Shares of Infinera Plunged Today

TheMotleyFool

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Why Shares of Infinera Plunged TodayPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, sunset photo at golden hour, photo by Thomas Heaton: https://img.midjourneyapi.xyz/temp/a130cb51-4ded-41be-b600-b83e2078ad65.png

Shares of Infinera Corp. (NASDAQ: INFN) were down on Wednesday after the networking hardware and software provider announced plans to sell $200 million of convertible senior notes. The stock was down 14.5% at 11:30 a.m. EST.

Infinera plans to offer $200 million of convertible senior notes due 2027 in a private placement. The initial purchaser will also be granted a 13-day option to buy up to $30 million worth of additional notes.

Image source: Getty Images.

Source Fool.com

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