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NetEase.com greenshoe exercised, raising convertibles to $100 million
New York, July 31 - NetEase.com, Inc. said underwriters of its recent offering of convertible subordinated notes due 2023 exercised the $25 million overallotment option in full, raising the size of the deal to $100 million.
The Beijing internet technology company originally sold $75 million of the convertibles after the market closed on July 7 to yield 0% with a 23% initial conversion premium.
Credit Suisse First Boston was lead manager of the Rule 144A deal.
Proceeds will be used for general corporate purposes including potential future acquisitions.
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