EquipmentShare.com Inc (Nasdaq: EQPT) has priced an offering of $1,350 million in aggregate principal amount of 7.125% senior secured second lien notes due 2034, according to a company press release.

The offering size represents an increase of $300 million from the previously announced amount. The notes will be sold to investors at 100% of the principal amount.

EquipmentShare said it intends to use the net proceeds to repay borrowings under its asset-based revolving credit facility, pay fees and expenses related to the transaction, and for general corporate purposes.

The notes will be secured on a second priority basis by liens on substantially all of the assets that secure any first priority lien obligations of the company.

The notes were not registered under the Securities Act of 1933 and were offered only to qualified institutional buyers in the U.S. under Rule 144A and to non-U.S. persons outside the U.S. under Regulation S.

EquipmentShare, founded in 2015 and headquartered in Columbia, Missouri, provides construction technology and equipment rental services across the United States.