Trulia flush with cash for acquisitions after raising $223M

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Purchasers of $200 million in convertible notes that Trulia Inc. offered in a private placement to institutional buyers have exercised “over-allotment” options to buy another $30 million in notes on the same terms, and a total of $230 million in notes bearing 2.75 percent interest and maturing in 2020 were issued Tuesday, the company said.

The offering netted Trulia $222.3 million after expenses, of which $30 million was used to repurchase shares of common stock from purchasers of the notes. Another $7.2 million will be used to repay existing debts.

The rest of the proceeds — $185.1 million — areĀ  available for working capital and other general corporate purposes, and Trulia said it may use some of the money “to acquire or invest in complementary businesses, products, services, technologies or other assets.” Source: