Could this be why we drop 4 pts at the opening.
Business Wire - December 01, 1999 09:34
SANTA MONICA, Calif.--(BUSINESS WIRE)--Dec. 1, 1999--eToys Inc.
(Nasdaq:ETYS) today announced that it has agreed to make a private
placement of $150 million principal amount of 6.25% Convertible
Subordinated Notes due Dec. 1, 2004, through a Rule 144A offering.
The notes are non-callable for three years and convertible into shares of
eToys Inc. common stock at a rate of 13.5323 shares of eToys Inc. common
stock for each $1,000 principal amount of notes, subject to adjustment in
certain circumstances. This is equivalent to a conversion price of
approximately $73.8975 per share.
Net proceeds will be used for working capital and general corporate
purposes. A portion of net proceeds may be used to fund acquisitions of
complementary businesses, products or technologies.
The notes have not been registered under the Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements.
CONTACT: eToys Inc., Santa Monica
Suki Shattuck, 310/664-8356
sshattuck@etoys.com
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