Jakks to raise cash in share issue

Firm looks to raise $85 million through a private placement of convertible senior notes in 2014.
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The notes will be convertible at any time only upon specified events. The notes may be settled, at Jakks’ election, in cash, shares of its common stock, or a combination of cash and shares of its common stock.

The new notes, due 2014, will be offered to qualified institutional buyers and the buyer will get a 30-day over-allotment option of up to $15 million notes, the company said.

THe firm will use the proceeds from this offering, along with cash on hand, to repurchase all or a portion of its convertible senior notes due 2023.


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