EDO greenshoe exercised, convertibles now $137.8 million

New York, April 4 - EDO Corp. said underwriters of its recent offering of 5.25% convertible subordinated notes due 2007 exercised the $12.8 million over-allotment option, raising the size of the issue to $137.8 million.

The New York-based capital goods company, which makes electronic and other products for the aerospace and defense industries, originally sold $125 million of the securities after the market closed on March 25 at a yield of 5.25% and an initial conversion premium of 25%. Due to strong demand, the pricing was moved forward by a day and the convertibles were upsized from a planned $100 million.

Underwriter for the Rule 144A offering was Salomon Smith Barney.

EDO said it plans to use proceeds for general corporate purposes, including potential acquisitions.

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