Trulia could use part of $150M senior note offering for acquisitions

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Real estate search portal operator Trulia Inc. says it could use a portion of a planned $150 million offering of convertible senior notes to “acquire or invest in complementary businesses, products, services, technologies, or other assets.”

The company plans to issue $150 million in convertible senior notes due in 2020 in a private placement to qualified institutional buyers. The initial purchasers will have a 30-day option to purchase up to $22.5 million in additional notes to cover any overallotments.

Trulia intends to use up to $30 million of the net proceeds from the offering to repurchase shares of its common stock from purchasers of the notes, and to use approximately $7.2 million of the net proceeds to repay all of the amounts outstanding under its credit facility and to terminate this facility upon the closing of the offering.

Trulia intends to use the remainder of the net proceeds from the offering “for working capital and other general corporate purposes, and may use a portion of the net proceeds to acquire or invest in complementary businesses, products, services, technologies, or other assets.” Source: sec.gov

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