SFBC greenshoe exercised, raising convertibles to $143.75 million

Pittsburgh, Sept. 9 - SFBC International Inc. said the underwriters of its recent offering of 2.25% convertible senior notes due 2024 exercised the over-allotment option in full, raising the size of the deal to $143.75 million.

SFBC originally sold $125 million of the convertibles after the close on Aug. 5 to yield 2.25% with a 35% initial conversion premium.

UBS Investment Bank was the bookrunner for the Rule 144A deal.

The Miami-based biotech firm will use proceeds to buy back stock from short sellers participating in the offering, for general corporate purposes and for acquisitions.

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