filings.toolsItem 1A. Risk Factors.
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Item 1A. Risk Factors.
Our operations and financial results are subject to various risks and uncertainties, including those described in Part I, Item 1A, “Risk Factors” in our Annual Report on Form 10-K for the fiscal period ended October 31, 2025, and Part II, Item IA, “Risk Factors” in our Quarterly Report on Form 10-Q for the fiscal period ended April 30, 2026, which could adversely affect our business, financial condition, results of operations, cash flows, and the trading price of our common stock.
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.
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.
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