Ciena

(CIEN) - Get Report

completed a public offering of 11 million common shares, at a price of $83.50 each, and closed the sale of $600 million of 3.75% convertible notes due Feb. 1, 2008.

The common stock portion of the offering totaled $918.5 million. The telecom equipment maker said the notes will be convertible into common shares at a conversion price of $104.38.

The networking company, which is based in Linthicum, Md., will use the net proceeds from the offering to fund its operations and for general corporate purposes. Ciena granted the underwriters an option to buy up to 1.65 million additional common shares and an additional $90 million of the convertible notes to cover any overallotments.

Shares of Ciena fell $1.69, or 2%, to $82.81 in recent

Nasdaq

trading.