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(RTTNews) - SolarEdge Technologies, Inc. (SEDG) on Wednesday announced the pricing of a private offering of $300 million, 2.25 percent convertible senior notes, due 2029.

The company has granted the initial purchasers an option to purchase up to an additional $45 million of notes. The sale of the notes to the initial purchasers is expected to settle on June 28.

SolarEdge expects that the net proceeds from the offering will be around $293.2 million. If the additional note purchase also is fulfilled, the proceeds will be approximately $337.2 million.

The company intends to use approximately $25.2 million of the net proceeds to pay the cost of the capped call transactions and the remainder to repurchase a portion of its outstanding 0 percent convertible notes due 2025, and for general corporate purposes.

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