Concord greenshoe exercised, raising convertibles to $86.25 million

New York, Dec. 8 - Concord Communications Inc. said underwriters of its recent offering of convertible senior notes due 2023 exercised the $11.25 million over-allotment option in full, raising the size of the deal to $86.25 million.

The Marlboro, Mass., provider of software to improve application performance originally priced $75 million of the securities after the market closed on Dec. 2 to yield 3% with a 30% initial conversion premium.

Bookrunner for the Rule 144A deal was Bear Stearns & Co. Inc.

Concord will use proceeds for working capital, general corporate purposes and potential acquisitions.

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