Maverick Tube Announces Proposed Sale of Notes and Authorization of Share Repurchases (MVK) :Co announces that subject to market conditions and other factors, it plans to offer $220 mln of convertible senior subordinated notes due 2025 in a private offering. As part of the offering, Maverick will grant the initial purchaser of the notes a 30-day option, solely to cover over-allotments, to purchase up to an additional aggregate $30 mln of the notes. Pursuant to the authorization granted by the co's board, the co intends to use the net proceeds of the offering to repurchase the co's common stock in the open market from time to time or through private transactions, as well as to pay the costs associated with the convertible note hedge and warrant transactions described below. The co expects to enter into a portion of these repurchases contemporaneously with the pricing of the notes.
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