LabOne greenshoe exercised, raising convertibles to $103.5 million

Pittsburgh, July 8 - LabOne Inc. said the underwriters of its 3.5% convertible senior debentures due 2034 have exercised the $13.5 million over-allotment option in full, raising the size of the deal to $103.5 million.

The Lenexa, Kan., diagnostics service provider originally priced $90 million of the securities after the close on June 21 to yield 3.5% with a 35% initial conversion premium.

JPMorgan Securities Inc. and Banc of America Securities were the bookrunners on the Rule 144A deal.

LabOne will use proceeds to pay remaining borrowings under its credit facility and for general corporate purposes.

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