Shares of

Rite Aid

(RAD) - Get Report

were active in the premarket session after the company tapped the convertible debt market.

The White Plains, N.Y., drug store chain sold $200 million of five-year convertible senior notes in a 144a private placement through J.P. Morgan Chase and Salomon Smith Barney.

On Instinet, the company's shares recently were gaining 2 cents to $5.25. About 290,000 shares had changed hands.