MOVE greenshoe exercised, ups 2.75% convertible sale to $100 million

By Tali David

Minneapolis, Aug. 8 - Underwriters for MOVE, Inc.'s 2.75% convertible senior notes due 2018 offering fully exercised their over-allotment option, adding an additional $15 million, according to a press release.

The company priced $85 million of the convertibles on Aug. 7.

The San Jose, Calif.-based real estate company intends to use up to $25 million of the proceeds to fund a repurchase of common stock.

Any remaining proceeds will be used for general corporate purposes, possible acquisitions or strategic transactions.

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