DALLAS— Pegasus Solutions, Inc. intends to offer, subject to market conditions and other factors, $75 million of convertible senior notes due 2023 through a private placement offering to qualified institutional buyers, and may issue up to an additional $15 million of convertible senior notes due 2023 upon exercise of an option to be granted to the initial purchasers in connection with the offering. The notes will be general unsecured obligations of Pegasus, will pay interest semi-annually and will be convertible into shares of Pegasus common stock, subject to certain conditions. Other terms of the notes will be determined between Pegasus and the initial purchasers of the notes. A definitive agreement with respect to the notes has not been entered into between Pegasus and the initial purchasers. Pegasus expects to use the net proceeds from the offering for working capital and other general corporate purposes. Any offers of the notes will be made exclusively by means of a private offering memorandum.
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