500.com -3.4% AH after filing to sell convertible notes, shares

|About: 500.com Limited (WBAI)|By:, SA News Editor

Already clobbered in regular trading, 500.com (WBAI) is adding to its losses after filing to sell up to $120M worth of convertible senior notes, and up to $360M worth of shares.

The Chinese sports lottery site ended 2013 with $90.1M in cash/equivalents, $11.7M of restricted cash, and $20M of time deposits. Its lockup expiration arrives on May 21.

SEC filings: I, II