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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. 

http://www.bloomberg.com/news/2014-08-12/aol-to-raise-as-much-as-345-million-to-help-expand-ad-business.html