Natalie Parkinson
All posts from Natalie Parkinson
Natalie Parkinson in Natalie Parkinson,

AOL to raise as much as $345 Million to help expand ad business

AOL Inc., the operator of the Huffington Post and other websites, plans to raise as much as $345 million by selling convertible notes, providing funding it could use to keep expanding in the advertising market.

The company will use $50 million of the proceeds from the private sale to buy back shares from the note acquirers as part of a previously announced $150 million repurchase program, according to a statement yesterday. The proceeds will also fund hedge and warrant transactions to cover the AOL shares underlying the notes, and could pay for additional stock repurchases, acquisitions or other transactions.