World Wrestling Entertainment, Inc. (NYSE:WWE) today announced the pricing of $200 million aggregate principal amount of convertible senior notes due 2023 (the "notes") in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Act"). The size of the offering was increased by $25 million from the previously announced offering size of $175 million. WWE also granted the initial purchasers of the notes a 30-day option to purchase up to an additional $30.0 million aggregate principal amount of the notes. The sale of the notes to the initial purchasers is expected to settle on December 16, 2016, subject to customary closing conditions, and is expected to result in approximately $193.4 million in net proceeds to WWE after deducting the initial purchasers' discount and estimated offering expenses payable by WWE (assuming no exercise of the initial purchasers' option). The notes will be unsecured, senior obligations of WWE and will bear interest at a rate of 3.375% per year. Interest will be payable semi-annually in arrears on June 15 and December 15 of each year, beginning on June 15, 2017. The notes will mature on December 15, 2023, unless earlier repurchased or converted. Conversions of the notes will be settled in cash, shares of WWE Class A common stock or a combination thereof, at WWE's election. WWE expects to use $14.64 million of the net proceeds of the offering of the notes to pay the cost of the convertible note hedge transactions described below (after such cost is partially offset by the proceeds to WWE from the warrant transactions described below) and to use the remaining proceeds of the offering to support the execution of the WWE's long-term growth strategy and for general corporate purposes. The initial conversion rate for the notes is 40.1405 shares of WWE Class A common stock per $1,000 principal amount of notes (which is equivalent to an initial conversion price of approximately $24.91 per share). Prior to the close of business on the business day immediately preceding June 15, 2023, the notes will be convertible at the option of the noteholders only upon the satisfaction of specified conditions and during certain periods. Thereafter until the close of business on the second scheduled trading day immediately preceding the maturity date, the notes will be convertible at the option of the noteholders at any time regardless of these conditions. The last reported sale price of WWE Class A common stock on December 12, 2016 was $19.93 per share.