New York, Feb. 26 - Intellisync Corp. priced $50 million of convertible senior notes to yield 3% with a 22.7% initial conversion premium.
Morgan Stanley was bookrunner for the Rule 144A offering.
The deal has a $10 million greenshoe.
Intellisync, formerly Pumatech, will use $20 million of the proceeds to fund its acquisition of Search Software America, a division of SPL World Group, and the remainder to fund possible investments in, or acquisitions of, complementary businesses, products or technologies or establishing joint ventures and for general corporate purposes and working capital requirements.
Intellisync is a San Jose, Calif. software company.
| Issuer: | Intellisync Corp.
|
| Issue: | Convertible senior notes
|
| Amount: | $50 million
|
| Greenshoe: | $10 million
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| Maturity: | March 1, 2009
|
| Coupon: | 3%
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| Price: | Par
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| Yield: | 3%
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| Initial conversion premium: | 22.7%
|
| Conversion price: | $4.00
|
| Conversion ratio: | 250
|
| Call: | Non-callable
|
| Pricing date: | Feb. 26, after close
|
| Underwriter: | Morgan Stanley
|
| Distribution: | Rule 144A
|
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