Securities Sale Raises $70 Million for DDi

Bloomberg News

DDi Corp., an Anaheim circuit-board maker, raised $70.5 million each for the company and selling shareholders in a sale Wednesday of 6 million shares of stock and $100 million worth of bonds that can be converted to stock.

The company and the selling shareholders each sold 3 million shares at $23.50 a share. Net proceeds to the company will be $64.4 million, DDi said. The convertible debt securities, which provided the company with net proceeds of $97 million, carry a 5.25% interest rate and mature in 2008.

DDi stock fell $1.06 to $23.31 a share on Nasdaq.