Digital River holders put 95.5% of the company's 1.25% convertibles

By Susanna Moon

Chicago, Jan. 5 - Digital River, Inc. said a majority of holders of its $195 million 1.25% convertible senior notes due 2024, or 95.5%, exercised their put option to require Digital River to repurchase their notes on Jan. 2.

The put option expired at 5 p.m. ET on Dec. 31.

Digital River paid 100.25 plus accrued interest to the purchase date. The redemption was funded with cash on hand of $187.9 million.

There is $8,805,000 principal amount of the notes outstanding.

Digital River is an Eden Prairie, Minn.-based provider of electronic-commerce outsourcing services.

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