Seeking Alpha

NQ Mobile sells off after pricing $150M convertible debt offering

  • NQ's (NQ -6.2%) convertible notes are due Oct. 15, 2018, have an interest rate of 4%, and feature a conversion price of $25.61 (39% above where shares currently trade). (PR)
  • NQ is now down 12% since first announcing the offering on Monday afternoon, thanks in part to a broader selloff in Internet/momentum stocks.
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