Synaptics greenshoe exercised, raising convertibles to $125 million

By Caroline Salls

Pittsburgh, Dec. 15 - Synaptics Inc. said the underwriters of its recent offering of 0.75% convertible senior subordinated notes due 2024 exercised the $25 million over-allotment option in full, raising the size of the deal to $125 million.

The San Jose, Calif.-based developer of interface solutions for the mobile computing, communications and entertainment industries originally priced $100 million of the securities after the close on Dec. 1 to yield 0.75% with a 40% initial conversion premium.

Bear Stearns & Co. Inc. and Credit Suisse First Boston were the bookrunners for the Rule 144A deal.

The company expects to use the net proceeds of the offering for working capital and general corporate purposes and potentially for future acquisitions.

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