By Sara Rosenberg
New York, May 29 - Ask Jeeves Inc. priced $100 million five-year convertible subordinated notes after market close Thursday at par to yield 0% with an initial conversion premium of 30%.
Price talk was for a 0% yield, with an initial conversion premium of 24% to 30%.
Credit Suisse First Boston led the Rule 144A deal.
There is a $15 million greenshoe.
The bonds are non-callable.
The Emeryville, Calif. provider of web search technologies intends to use the proceeds for general corporate purposes, including potential acquisitions and investments.
Terms of the new deal are:
| Issuer: | Ask Jeeves Inc.
|
| Issue: | Convertible subordinated notes
|
| Amount: | $100 million
|
| Greenshoe: | $15 million
|
| Lead manager: | Credit Suisse First Boston
|
| Maturity date: | 2008
|
| Coupon: | 0%
|
| Price: | Par
|
| Yield: | | 0%
|
| Conversion premium: | 30%
|
| Conversion price: | $16.90
|
| Conversion ratio: | 59.1716
|
| Call: | Non-callable
|
| Put: | Non-putable
|
| Pricing date: | May 29
|
| Settlement date: | June 4, 2003
|
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