A statement from EFI says it intends to offer $300m senior notes to qualified institutional buyers, and that it intends to grant the initial purchasers the right to buy up to an additional $45m aggregate principal amount of the notes (within a 13-day period from the date of initial notes issue).
The company intends to use a portion of the net proceeds from the offering to pay the cost of certain convertible note hedge transactions and expects to use the remainder for general corporate purposes, including additional stock repurchases and potential acquisitions and strategic transactions. However, EFI said it currently has no agreements or understandings with respect to any material acquisitions or strategic transactions.