Sirius Raises $321 Million

Sirius Raises $321 Million
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Sirius Raises $321 Million

Sirius closed a $230 million sale of convertible notes and an offering of 25 million shares of common stock. It raised approximately $321 million. Included are net proceeds Sirius received as underwriter Morgan Stanley exercised an option to purchase up an additional $30 million of the convertible notes.
"The ability for us to raise this capital is a testament to the confidence within the financial community about the success of Sirius as the satellite radio category takes off," said company President/CEO Joe Clayton.