DuPont Photomasks says greenshoe exercised, raising convertibles to $125 million

New York, May 5 - DuPont Photomasks Inc. said underwriters of its recent offering of convertible subordinated notes due 2008 exercised the $20 million over-allotment option in full, raising the deal to $125 million.

The company originally sold $105 million of the securities after the close Tuesday to yield 1.25% with a 36% initial conversion ratio.

Lehman Brothers and Credit Suisse First Boston are the lead managers on the Rule 144A offering.

The Round Rock, Texas manufacturer of photomasks said that proceeds will be used for general corporate purposes, and may also be used to acquire additional businesses, products, and technologies and to invest in joint ventures. Proceeds may also be used to repurchase or repay the company's outstanding convertible subordinated notes due 2004.

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