Applied Optoelectronics Inc.
Applied Optoelectronics Announces $170M Credit Line with Shanghai Pudong Development Bank
Summary
On May 24, 2024, Global Technology, a wholly owned subsidiary of Applied Optoelectronics, Inc., entered into a five-year revolving credit line agreement totaling 170,000,000 RMB with Shanghai Pudong Development Bank Co., Ltd. The credit line will be used for general corporate and capital investment purposes and is secured by a mortgage contract on real property owned by Global Technology. The bank retains the right to revoke the credit line based on various conditions. This transaction is disclosed under SEC Items 1.01 and 2.03.
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Exhibits (2)
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About Applied Optoelectronics Inc.
Applied Optoelectronics Inc. is a prominent developer and manufacturer of optical communications products. The primary function of the company is to supply advanced optical components, modules, and equipment that are essential for high-speed communication networks. Applied Optoelectronics serves several key industries, including internet data centers, broadband service providers, and telecommunications. Their product offerings are critical in supporting increased data transmission rates demanded by these sectors. Noteworthy features of this company include its focus on vertically integrated manufacturing processes, which allow for greater control over production quality and cost. It extensively employs its semiconductor technology to produce lasers, detectors, and transceiver modules. This integration is vital for delivering cost-effective and reliable solutions that are foundational to the infrastructure of modern data communication systems. In the financial market, Applied Optoelectronics Inc. holds a significant role due to its contribution to the increasing demand for fast and efficient data services. As technology continues to advance and data consumption grows, the products offered by Applied Optoelectronics are essential for supporting global communication networks, thereby underscoring its importance in the optical networking industry.
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