Story updated at 3 p.m. June 8:
Wellness-oriented software firm MindBody announced new details in its plans to raise capital through a debt securities offering for private investors June 8.
The San Luis Obispo-based company raised its goal from $200 million to $270 million in convertible senior notes, which will come due in 2023. Net proceeds from the investment will go toward working capital and potential acquisitions by a company that has laid out hundreds of millions of dollars over a handful of deals since 2016, including its recent $150 million cash deal to buy Booker Software.
Interest of 3.75 percent will be payable semiannually, MindBody said in a statement. The offering is expected to close June 12, and initial purchasers will have a 13-day option to purchase another $40.5 million – previously $30 million – in principal amount of the notes.
Shares for the company rose 2.6 percent on June 8 to $39.10.