WisdomTree Shares Rise 6% After Pricing Convertible Notes Offering

(RTTNews) - WisdomTree, Inc. (WT) shares rose 5.63 percent to $14.25, gaining $0.76 on Tuesday after the company priced a convertible senior notes offering to fund acquisitions and debt refinancing.

The stock is currently trading at $14.25 compared with its previous close of $13.49. Shares opened at $13.90 and traded between $13.72 and $14.48 during the session on the New York Stock Exchange. Trading volume reached about 10.04 million shares, well above the average volume of about 3.65 million shares.

WisdomTree priced $525.0 million of convertible senior notes due 2031 and granted underwriters an option for an additional $78.75 million, which was fully exercised, bringing total proceeds to $603.75 million. The company expects net proceeds of about $591.2 million, with funds earmarked for the acquisition of Atlantic House Holdings Limited, exchange of existing convertible notes and general corporate purposes.

The stock has traded in a 52-week range of $7.47 to $17.68.