Company: OCC
Filing Date: 2025-09-11
Form Type: 10-Q
Source: 0001437749-25-028857
Chunk: 27

Company: OPTICAL CABLE CORP
Filing Date: 2025-09-11
Form: 10-Q
Item: Item 1
Chunk 27
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 of Revenue

The following table presents net sales attributable to the United States and all other countries in total for the three months and nine months ended July 31, 2025 and 2024:

			Three months ended 

			Nine months ended 

			July 31,

			July 31,

			2025

			2024

			2025

			2024

			United States

			$
			15,949,437

			$
			13,077,203

			$
			41,819,451

			$
			38,071,069

			Outside the United States

			3,967,482

			3,144,468

			11,389,833

			9,117,465

			Total net sales

			$
			19,916,919

			$
			16,221,671

			$
			53,209,284

			$
			47,188,534

			(12)

			Issuance of Redeemable Restricted Common Stock 

On July 7, 2025, the Company entered into a Stock Purchase Agreement (the “SPA”) with Lightera, LLC (“Lightera”) to issue 642,199 shares of common stock for $2.0 million of cash consideration. The SPA provides the Company with the right to repurchase the shares issued to Lightera at a price equal to the greater of the price per share of common stock paid at issuance or the average price per share of common stock as traded for the ten trading days ending on the business day immediately prior to the date on which the call notice is delivered (the “Call Option”). Similarly, Lightera has a corresponding right to require the Company repurchase the shares issued using the same pricing mechanism included in the Call Option (the “Put Option”).

Contemporaneous with the SPA, the Company and Lightera entered into a Joint Collaboration Agreement (the “Collaboration Agreement”) on the same date, establishing a strategic collaboration aimed at expanding product offerings to customers, increasing customer engagement and enhancing customer service for both new and existing customers, which will include certain Lightera products being offered and sold by the Company.

The Call Option and the Put Option cannot be exercised for a period of two years from July 7, 2025 unless accelerated based on contingent events, including but not limited to the termination of the Collaboration