Callidus Software (CALD) Announces Offering of Senior Convertible Notes Due 2016
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Callidus Software, Inc. (NASDAQ: CALD) today announced that it proposes to offer $70 million principal amount of senior convertible notes.
The notes would be due in June 2016 and are to be offered and sold to qualified institutional buyers.
They will also be redeemable by Callidus under certain circumstances beginning in 2014, and will be convertible into shares of Callidus' common stock.
Callidus also intends to grant to the initial purchasers of the notes the right to purchase up to an additional $10.5 million principal amount of notes solely to cover overallotments.
The notes would be due in June 2016 and are to be offered and sold to qualified institutional buyers.
They will also be redeemable by Callidus under certain circumstances beginning in 2014, and will be convertible into shares of Callidus' common stock.
Callidus also intends to grant to the initial purchasers of the notes the right to purchase up to an additional $10.5 million principal amount of notes solely to cover overallotments.
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