Sohu.com says greenshoe exercised, raising convertibles to $90 million

New York, July 11 - Sohu.com Inc. said underwriters of its recent offering of zero-coupon convertible senior notes due 2023 exercised the $20 million over-allotment option in full, raising the size of the deal to $90 million.

The Beijing-based internet company originally sold $70 million of the convertibles after the market closed on July 8 to yield 0% with a 23% initial conversion premium.

Merrill Lynch & Co. was bookrunner of the Rule 144A deal.

Proceeds will be used for general corporate purposes, including possible acquisitions.

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