By Rebecca Melvin
New York, May 11 RNTS Media NV has priced an add-on of 50 million to an initial placement of 100 million of 5% senior unsecured convertible bonds, according to a news release.
The Regulation S offering is fully subscribed and expected to settle within days, the company said. The initial tranche priced in July 2015.
Proceeds will be used to fund the companys latest acquisition and to support organic growth.
On March 3, RNTS agreed to acquire Inneractive Ltd. for $46 million.
Anoa Capital SA and ADS Securities LLC were joint lead managers and bookrunners for the transaction.
The initial conversion price is 4.20, and the bonds are listed on the open market of the Frankfurt Stock Exchange.
Berlin-based RNTS is a mobile advertising technology company.
| Issuer: | RNTS Media NV
|
| Issue: | Senior, unsecured convertible bonds
|
| Amount: | 50 million add-on
|
| Bookrunners: | Anoa Capital SA and ADS Securities LLC
|
| Coupon: | 5%
|
| Price: | Par
|
| Initial conversion price: | 4.20
|
| Distribution: | Regulation S
|
| Stock symbol: | Frankfurt: RNM
|
| Stock price: | 1.93 as of close May 11
|
| Total amount: | 150 million, including 100 million priced in July 2015
|
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