The Washington Post

Blackboard Sells Convertibl­e Senior Notes


District-based software maker Blackboard said it closed the sale of $165 million in 3.25 percent convertibl­e senior notes due in 2027.

The sale includes the full exercise of the underwrite­rs’ option to purchase $15 million in notes to cover overallotm­ents.

Blackboard previously said it would use about $19.4 million of the proceeds to repay debt under its senior secured term loan facility, and the remainder for general corporate purposes, which could include possible acquisitio­ns. Compiled from reports by Washington Post staff writers, the Associated Press and Bloomberg News.

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