SAN JOSE, Calif., Aug. 8, 2013 /PRNewswire/ -- Move, Inc. (NASDAQ: MOVE), the leader in online real estate, today announced that it in connection with Move's private offering of 2.75% Convertible Senior Notes due 2018, the initial purchaser has elected to fully exercise its option to purchase an additional $15 million in aggregate principal amount of the Notes. The offering is expected to close on August 12, 2013, subject to customary closing conditions. With the exercise of this purchase option, a total of $100 million in aggregate principal amount of the notes will be sold. The net proceeds from the offering, including the exercise of this purchase option, after deducting the initial purchaser's discount and the estimated offering expenses payable by Move, are estimated to be approximately $96.6 million. Move has agreed to use $25 million of the net proceeds from this offering to repurchase shares of its common stock concurrently with the offering in privately negotiated transactions. The share repurchase is expected to close on August 12, 2013. Move intends to use the remaining net proceeds for general corporate purposes and possible future acquisitions or strategic transactions. The notes will be offered to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The notes will not be registered under the Securities Act or any other jurisdiction and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state laws. This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any of these securities, and shall not constitute an offer, solicitation or sale of the notes in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.