Proofpoint Prices $175 Mln Of Convertible Senior Notes

(RTTNews) - Proofpoint, Inc. (PFPT) said Friday that it has priced $175 million aggregate principal amount of 1.25% Convertible Senior Notes due 2018.

The size of the offering of the notes was increased from the previously announced aggregate principal amount of $150 million.

Proofpoint has also granted the initial purchasers of the notes an option to purchase up to an additional $26.25 million aggregate principal amount of notes.

The sale is expected to close on December 11.

Proofpoint estimates that the net proceeds from the offering will be about $169.8 million, or about $195.3 million if the initial purchasers exercise their option to purchase additional notes in full, after deducting the initial purchasers' discount and estimated offering expenses payable by Proofpoint.

The company expects to use the net proceeds from the offering of the notes for general corporate purposes, including potential acquisitions and strategic transactions. However, Proofpoint has no commitments with respect to any such acquisitions or investments at this time.