J2 Global (NASDAQ:JCOM) has priced an offering of $350 million of 3.25% convertible senior notes due 2029. Proceeds will be used for general corporate purposes, which may include acquisitions or payment of the offer price of any notes tendered in connection with a subsidiary’s offer to purchase its outstanding notes. 

The notes are convertible into cash or shares of j2 Global common stock,or a combination thereof at j2 Global’s election, subject to satisfaction of certain conditions and during certain periods. The initial conversion rate of the notes is 14.4159 shares of common stock per $1,000 principal amount, which is equivalent to an initial conversion price of approximately $69.37 per share of common stock, subject to adjustment in certain circumstances. This initial conversion price represents a premium of 45% relative to the last reported sale price on June 11 of j2 Global’s common stock of $47.84. 

j2 Global (JCOM) has granted the underwriters an over-allotment option to purchase up to an additional $52,500,000 aggregate principal amount. BofA Merrill Lynch, Citigroup and Wells Fargo Securities are acting as joint book-running managers in the offering. 

Shares of JCOM are at $47.84 with a 52-week range of $40.39 – $56.24.