Applied Optoelectronics Inc. has entered into agreements to exchange $76.7 million of its 5.25% Convertible Senior Notes due 2026 for $125 million of new 2.75% Convertible Senior Notes due 2030, shares of common stock, and cash, while also launching a registered direct offering of 1,036,458 shares at $33.97 each, expected to raise approximately $33.6 million for general corporate purposes.