Company: AAOI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001437749-25-015518
Chunk: 18

Company: APPLIED OPTOELECTRONICS, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 new credit line or an increase to the existing credit limits. Global  may draw upon the Pledge Asset Line between  December 21, 2023 and  December 21, 2025 (the "Asset Pool Period"). During the Asset Pool Period, Global  may request to draw upon the Pledge Asset Line on an as-needed bases; however, amount of available credit under the Pledge Asset Line and approval of each draw  may be reduced or declined by CZB due to changes in Chinese government regulations and/or changes in Global's financial and operational condition. Each draw will be facilitated by a separate credit agreement specifying the terms of each draw and will bear interest equal to CZB's commercial banking interest rate effective on the day of the applicable draw. Global's obligations under the Pledge Asset Line will be secured by certain financial assets, including but not limited to, deposit receipts, domestic accounts receivable and electronic commercial paper. As of  March 31, 2025, $8.6 million was outstanding under the ¥200M Credit Facility, and the outstanding balance of bank acceptance notes issued to vendors was $24.0 million.
    
   As of  March 31, 2025 and  December 31, 2024, the Company had $29.4 million and $24.8 million of unused borrowing capacity, respectively.
    
   As of  March 31, 2025 and  December 31, 2024, there was $12.2 million and $8.5 million of restricted cash, investments or security deposits associated with the loan facilities, respectively.
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       13

   Note 12.  Convertible Senior Notes
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   On  March 5, 2019, the Company issued $80.5 million of 5% convertible senior notes due 2024 (the “2024 Notes”). On  December 5, 2023, the Company issued approximately $80.2 million aggregate principal amount of 5.250% convertible senior notes due 2026 (the "2026 Notes"), and on the same day consummated various separate, privately negotiated exchange agreements with certain holders of its 2024 Notes to exchange or repurchase approximately $80.2 million principal amount of the 2024 Notes for aggregate consideration consisting of approximately $81.1 million in cash, which included accrued interest on the 2024