Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Recent Sales of Unregistered Securities
On July 2, 2026, we issued a warrant (the "Warrant") to Oracle Corp. ("Holder") to purchase up to an aggregate of 4,156,466 shares of our common stock at an exercise price of $0.01 per share. The Warrant was issued in connection with the Holder entering into a strategic collaboration with us to deploy our networking solutions in the Holder’s AI data centers. The Warrant will vest and become exercisable in tranches, upon the achievement of specific milestones relating to purchases by the Holder and its affiliates of products and support from us. Subject to the terms of the Warrant, the Warrant is exercisable through June 25, 2029.
We believe this issuance was exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”), in reliance upon Section 4(a)(2) of the Securities Act and/or Regulation D promulgated thereunder, as a transaction by an issuer not involving a public offering. Appropriate legends were placed upon the Warrant issued in this transaction.
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Table of Contents
Issuer Purchases of Equity Securities
Period Total Number
of Shares
Purchased and Settled Average
Price Paid
per Share Total Number of
Shares Purchased and Settled as
Part of Publicly
Announced Plans
or Programs Approximate Dollar Value of
Shares that May Yet Be
Purchased under the Plans
or Programs
In thousands, except per share amounts
Month 1 (May 2026) 283 $ 29.20 283 $ 3,291,804
Month 2 (June 2026) 1,185 48.25 1,185 3,234,637
Month 3 (July 2026) 1,520 46.02 1,520 $ 3,164,671
Total 2,988 $ 45.31 2,988
As of July 31, 2026, the Company had a remaining authorization of approximately $3.2 billion for future share repurchases.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.