Infocrossing greenshoe exercised, raising convertibles to $72 million

Pittsburgh, July 1 - Infocrossing Inc. said the underwriters of its recent offering of 4% convertible senior notes due 2024 exercised the $12 million over-allotment option in full, raising the size of the deal to $72 million.

The Leonia, N.J., provider of selective information technology outsourcing services originally priced $60 million of the securities after the close on June 24 to yield 4% with a 21% initial conversion premium.

Lehman Brothers was the bookrunner on the Rule 144A deal.

Infocrossing will use proceeds to fund potential acquisitions and for general corporate purposes.

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