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Article: GSI Commerce Completes Offering of $150 Million Senior Convertible Notes.
- Article from:
- PR Newswire
- Article date:
- July 5, 2007
CopyrightCOPYRIGHT 2007 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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KING OF PRUSSIA, Pa., July 5 /PRNewswire-FirstCall/ -- GSI Commerce Inc. , a leading provider of e-commerce solutions, today announced the completion of its private offering under the Securities Act of 1933, as amended (the "Securities Act"), of an aggregate of $150 million principal amount of unsecured 2.5% convertible senior notes due June 1, 2027, which includes the exercise of the initial purchaser's over-allotment option to purchase an additional $25 million of notes.
Net proceeds to GSI from this offering will be approximately $145 million after deducting estimated discounts, commissions and expenses. GSI expects to use the proceeds for working capital, ...