Blackboard holders may put back 3.25% convertibles until June 29

By Jennifer Chiou

New York, June 20 - Blackboard Inc. announced that holders of its 3.25% convertible senior notes due 2027 may exercise their repurchase option until 5 p.m. ET on June 29, extended from 11:59 p.m. ET on June 24.

The company priced $165 million of the notes on June 20, 2007 and set a conversion rate of 15.4202 shares per $1,000 principal amount of notes for a conversion price of $64.85. The company's shares (Nasdaq: BBBB) closed at $40.15 on June 20.

Questions may be directed to U.S. Bank, NA at 800 934-6802.

Blackboard is a Washington, D.C.-based provider of enterprise technology and services that improve the experience of students and learners.

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