TiVo Plans $200 Mln Private Convertible Senior Notes Offering

(RTTNews) - TiVo Inc. (TIVO) said Monday that it plans to offer $200 million aggregate principal amount of Convertible Senior Notes due 2021 in a private offering.

The company also expects to grant the initial purchasers of the notes an over-allotment option to purchase up to an additional $30 million aggregate principal amount of notes.

TiVo said it plans to use the net proceeds from the offering of the notes for general corporate purposes, including share repurchases representing up to 15.47 million shares, to fund the immediate repurchase of up to $50 million of common stock in privately negotiated transactions through one of the initial purchasers conducted concurrently with the pricing of the notes, and to fund the cost of convertible note hedge transactions.

Any repurchases funded by the proceeds of this offering are separate from TiVo's previously announced $350 million share repurchase program.