HOUSTON, Nov. 20, 2013 (GLOBE NEWSWIRE) -- Cardtronics, Inc. (Nasdaq:CATM) today announced the pricing of $250 million aggregate principal amount of convertible senior notes due 2020 (the "Convertible Notes"). The Convertible Notes were offered in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The Company granted an option to the initial purchasers to purchase up to an additional $37.5 million aggregate principal amount of Convertible Notes, solely to cover over-allotments. The Convertible Notes will pay interest semiannually at an annual rate of 1.00% and will be convertible into cash, shares of the Company's common stock or a combination thereof, at the Company's election, based on the applicable conversion rate at such time. The Convertible Notes have an initial conversion rate of 19.1022 shares of the Company's common stock per $1,000 principal amount of the Convertible Notes (which is equal to an initial conversion price of approximately $52.35 per share of the Company's common stock), representing an initial conversion premium of approximately 25% above the closing price of $41.88 per share of the Company's common stock on November 19, 2013. The Convertible Notes will mature on December 1, 2020, unless earlier repurchased or converted in accordance with their terms prior to such date. Prior to September 1, 2020, the Convertible Notes will be convertible only upon the occurrence of certain events and during certain periods, and thereafter, at any time prior to the close of business on the second scheduled trading day immediately preceding the maturity date. The Company expects to close the offering on or about November 25, 2013, subject to the satisfaction of various customary closing conditions.
Cardtronics Prices Private Offering Of $250 Million Of Convertible Senior Notes Due 2020
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