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.