- On September 8, Internet company Sea Ltd (NYSE:SE) proposed to sell $2.5 billion notes. The underwriters have a 30-day option to purchase additional notes up to $375 million.
- Sea also offered to sell 11 million ADS, representing one share. The shares were worth $3.86 billion based on the September 7 closing price of $351.02.
- The underwriters have a 30-day option to purchase up to 1.65 million additional ADSs.
- The offering proceeds will serve business expansion and other general corporate purposes.
- Sea held $1.3 billion in convertible notes as of June 30.
- Price Action: SE shares traded lower by 5.80% at $323.86 on the last check Thursday.
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