AudioCodes greenshoe exercised, raising convertibles to $125 million

By Caroline Salls

Pittsburgh, Nov. 16 - AudioCodes Ltd. said the underwriters of its recent offering of 2% senior convertible notes due 2024 exercised the $25 million over-allotment option in full, raising the size of the deal to $125 million.

The Airport City, Israel-based voice infrastructure company originally priced $100 million of the securities Nov. 3 to yield 2% with a 32.5% initial conversion premium.

Merrill Lynch and Lehman Brothers were the bookrunners for the Rule 144A deal.

AudioCodes will use proceeds for general corporate purposes, including acquisitions.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.