By Angela McDaniels
Seattle, Feb. 1 - BluePhoenix Solutions priced an $11.5 million upsized offering of convertible notes, according to a company news release.
The company had planned an $8 million issue.
The notes will be convertible into BluePhoenix common shares at NIS 26.00 per share, about $5.60. They will be sold in Israel and listed on the Tel Aviv Stock Exchange.
BluePhoenix Solutions is a Herzlia, Israel-based company that develops tools for mainframe and distributed IT infrastructure modernization.
| Issue: | BluePhoenix Solutions
|
| Issue: | Convertible notes
|
| Amount: | $11.5 million
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| Conversion price: | NIS 26.00
|
| Conversion ratio: | 178.5714
|
| Pricing date: | Feb. 1
|
| Settlement date: | Feb. 8
|
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