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NuVasive says greenshoe exercised in full, lifting sale of 2.25% convertibles to $230 million
By Devika Patel
Knoxville, Tenn., March 14 - Underwriters for NuVasive, Inc.'s $200 million issue of 2.25% convertible senior notes due 2013 exercised their over-allotment option in full for $30 million more of the notes, increasing the size of the issue to $230 million, according to an 8-K filed with the Securities and Exchange Commission Friday.
The convertibles have a conversion price of $44.74 per share and a conversion ratio of 22.3515.
J.P. Morgan Securities Inc. and Goldman Sachs were bookrunners of the Rule 144A deal, which priced on March 3.
The company plans to use the proceeds for general corporate purposes, including potential strategic acquisitions.
San Diego-based NuVasive is a medical device company focused on developing products for minimally disruptive surgical treatments for the spine.
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