Evergreen Solar greenshoe exercised in full, lifting convertibles offering to $90 million

By Jennifer Chiou

New York, June 28 - Evergreen Solar, Inc. said underwriters have exercised in full a $15 million greenshoe, bringing its recent offering of 4.375% convertible subordinated notes due July 1, 2012 to $90 million.

Proceeds are intended for general corporate purposes, including research and development.

The original $75 million Rule 144A deal, priced June 23, had a 20% initial conversion premium and was sold through bookrunner SG Cowen & Co.

The solar power company is based in Marlboro, Mass.

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