Proofpoint greenshoe exercised, ups convertible sale to $201.25 million

By Tali David

Minneapolis, Dec. 11 - Underwriters for Proofpoint Inc.'s offering of 1.25% convertible senior notes due 2018 exercised their over-allotment option in full, adding an additional $26.25 million, according to a press release.

The company priced an upsized $175 million of the five-year convertibles at par with an initial conversion premium of 32.5% on Friday. The over-allotment option brings the total issuance to $201.25 million.

As previously reported, the joint bookrunners were Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc.

Proceeds are expected to be used for general corporate purposes, including potential acquisitions and strategic transactions.

Proofpoint is a security-as-a-service vendor based in Sunnyvale, Calif.

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