Matria Healthcare greenshoe exercised, raising convertibles to $86.25 million

Pittsburgh, June 4 - Matria Healthcare Inc. said the underwriters of its recent offering of 4.875% of convertible senior subordinated notes due 2024 exercised the $11.25 million over-allotment option in full, raising the size of the deal to $86.25 million.

The Marietta, Ga. disease-state management and fulfillment services provider originally priced $75 million of the securities after the close on April 29 to yield 4.875% and with an initial conversion premium of 47.5%.

UBS Investment Bank was the bookrunner for the Rule 144A deal.

A portion of proceeds have been placed in an escrow account with Wells Fargo Bank NA and will be used to fund a portion of the company's pending tender offer to repurchase its 11% series B senior notes due 2008.

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