Perficient greenshoe lifts 0.25% convertibles to $380 million

Chicago, Nov. 10 – The initial purchasers of Perficient Inc.’s 0.25% convertible notes due 2026 exercised the greenshoe in full on the settlement date and purchased an additional $50 million of the notes, according to an 8-K filing with the Securities and Exchange Commission.

With the full exercise of the option to buy more notes, Perficient sold $380 million of new convertible bonds.

Morgan Stanley & Co. LLC and Jefferies LLC were active bookrunners for the Rule 144A offering.

The initial size of the offering was $300 million with a greenshoe of $45 million. Both were upsized.

Net proceeds were $369.1 million.

Approximately $311.5 million of proceeds will be used to fund the cash portion of the exchange of the 1.25% convertible notes, $42.71 million will be used to fund the hedge transactions and remaining amounts will be used for general corporate purposes.

Perficient is a St. Louis-based digital consultancy firm.

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