Company: AAOI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437749-25-025450
Chunk: 125

Company: APPLIED OPTOELECTRONICS, INC.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 125
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 other available funds, to repay the amounts outstanding under the ¥200M Credit Facility. Upon repayment, Global terminated the ¥200M Credit Facility effective  July 23, 2025. See Note 11, "Bank Acceptance Notes Payable" for additional information.

     On
     July 29, 2025, Global entered into a
    five-year revolving credit line agreement with Shanghai Pudong Development Bank Co., Ltd., in Ningbo City, China, totaling
    250,000,000 RMB (the
    "¥250M SPD Credit Line"), or approximately
    $34.9 million at that time, and a mortgage contract. Borrowing under the
    ¥250M SPD Credit Line will be used for general corporate and capital investment purposes. Global's obligation under the
    ¥250M SPD Credit Line will be secured by certain real property owned by Global.

   On  July 30, 2025, the Company retired the final $3,500,000 principal and accrued and unpaid interest on the 2026 Notes by exchanging such outstanding principal for 239,404 shares of the Company's common stock and by paying the accrued and outstanding interest in cash.
    
   On  July 31, 2025, the Company entered into a Loan and Security Agreement with BOKF, NA dba BOK Financial (the "BOKF Credit Line"). The BOKF Credit Line provides the Company with a three-year, $35 million revolving line of credit. Borrowing under the BOKF Credit Line will be used for general working capital purposes and business operations. The Company's obligations under the BOKF Credit Line will be secured by substantially all of the Company's assets excluding assets of the Company's subsidiaries.

       21

Item 2.   Management’s Discussion and Analysis of Financial Condition and Results of Operations

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You should read the following discussion and analysis of our financial condition and results of operations in conjunction with our consolidated financial statements and the accompanying notes appearing elsewhere in this Quarterly Report on Form 10-Q for the period ended June 30, 2025 and the audited consolidated financial statements and notes thereto and management’s discussion and analysis of financial condition and results of operations for the fiscal year ended December 31, 2024 included in our Annual Report. References to "Applied Optoelectronics," “we," "our" and "us" are to Applied Optoelectronics, Inc. and its subsidiaries unless