Seeking Alpha

NQ Mobile announces $150M convertible debt offering, shares -4.4% AH

  • NQ is offering convertible senior notes that are due Oct. 2018, and which can be redeemed by the company in certain circumstances starting Oct. 2016. Underwriters will have the option to purchase an additional $22.5M in notes. (PR)
  • NQ only says it will use the proceeds for "general corporate purposes, including working capital needs and potential acquisitions of complementary businesses." The company hasn't been shy about making acquisitions (I, II) to expand its mobile software/services lineup.
  • The offering comes with NQ shares up over 3x YTD. NQ had $15.4M in cash/equivalents at the end of Q2, and no debt.
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