Serologicals greenshoe exercised, raising convertibles to $130 million

New York, Aug. 20 - Serologicals Corp. said underwriters of its offering of convertible senior subordinated debentures due 2033 exercised the $20 million over-allotment option in full, raising the size of the deal to $130 million.

The Atlanta provider of biological products and technologies originally sold $110 million of the securities after the market closed on Aug. 14 to yield 4.75% with a 27.5% initial conversion premium.

JPMorgan, Banc of America Securities and UBS Investment Bank were lead managers of the Rule 144A offering.

Serologicals will use proceeds to repay its credit facility, which was drawn in association with the acquisition of Chemicon in April, and for general corporate purposes.

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