American Medical Systems greenshoe fully exercised, lifting convertibles offer to $373.75 million

By Jennifer Chiou

New York, June 28 - American Medical Systems Holdings Inc. announced the $48.75 million greenshoe was fully exercised, raising its issue of 3.25% convertible senior subordinated notes due July 2036 to $373.75 million.

After the close on June 21, American Medical Systems priced $325 million of the convertibles with an initial conversion premium of 27.5%.

Piper Jaffray & Co. was bookrunner for the registered deal, with Thomas Weisel Partners LLC and KeyBanc Capital Markets acting as co-managers.

The notes will be non-callable for five years, with puts in years seven, 10, 15, 20 and 25.

Proceeds are expected to fund a portion of the previously announced acquisition of Laserscope and for general working capital purposes.

American Medical Systems is a Minnetonka, Minn., supplier of medical devices and procedures focused on pelvic disorders.

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