Blucora plans $150M convertible notes offering
Blucora plans to offer $150M convertible senior notes due 2019 in a private placement
BELLEVUE, Wash. (AP) -- Blucora plans to offer $150 million convertible senior notes due 2019 in a private placement.
The Bellevue, Wash., company, formerly known as InfoSpace Inc., also plans to give the initial buyers of the unsecured notes a 30-day option to buy up to an additional $22.5 million notes to cover any excess demand.
Blucora Inc. said Monday that it plans to use the net proceeds for working capital and general corporate purposes, including acquisitions.
Shares of the company, which develops Internet search tools and technologies and has a tax preparation business, fell 82 cents, or 5 percent, to $15.67 in midday trading. The stock has traded in a 52-week range of $10.73 to $18.63.
