Infinera Announces Nokia Acquisition Timeline And Stockholder Merger Election Revocation Deadline

Infinera CorpShs

6.30 EUR -1.56%

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(RTTNews) - Infinera Corporation (INFN) a California-based telecommunications technology company, Tuesday announced that its acquisition by Nokia Corporation is expected to close around February 28, 2025, pending final regulatory approvals and customary closing conditions.

The company announced that, based on the expected February 28, 2025, closing date, the deadline to revoke a prior election on merger consideration is 5:00 p.m. - New York City time on February 21, 2025. If the closing is delayed, an updated deadline will be provided.

INFN shareholders who have elected a form of merger consideration and wish to sell or transfer their shares may revoke their election before the Election Revocation Deadline. No revocations will be accepted after the deadline.

Infinera shareholders who do not properly revoke their election by the deadline will no longer be able to sell or transfer their shares afterward. They will receive the applicable merger consideration upon transaction completion.

INFN stockholders of record can revoke a prior election before the Election Revocation Deadline by submitting a Notice of Withdrawal to Computershare Trust Company, N.A. - the Exchange Agent at the designated address.

A revocation is valid only if the Exchange Agent receives a properly completed and signed Notice of Withdrawal by the Election Revocation Deadline.

Infinera stockholders holding shares through a bank, broker, or nominee may have an earlier revocation deadline and should contact their provider for assistance.

A valid election revocation before the deadline results in shares being converted to a right to receive $6.65 per share in cash, subject to proration as outlined in the Proxy Statement/Prospectus filed with the SEC. Infinera and Nokia will announce election results and proration, if any, at closing.

INFN is currently trading at $6.66 or 0.08% higher on the Nasdaq Global Select Market.