Soros Fund Adds to Digital River (DRIV) Convertible Bond Stake ~ market folly

Wednesday, May 9, 2012

Soros Fund Adds to Digital River (DRIV) Convertible Bond Stake

In a 13G filed with the SEC, George Soros' family office Soros Fund Management has disclosed a 10.13% stake in Digital River (DRIV) with 4,162,494 shares via convertible bonds. 

According to an SEC Form 3 filed as well, this stake is in the form of 2.00% convertible bonds due 2030 with a conversion price of 49.13.  These bonds are convertible at any time and mature on November 1st, 2030.

They also disclose an additional 128,974 share stake via 1.25% convertible bonds due 2024 with a conversion price of 44.06.
The investment firm has boosted their holdings by almost 35% in the past two months.  We previously posted when Soros started a stake in DRIV back in March.

Per Google Finance, Digital River "provides end-to-end global cloud-commerce and marketing solutions to a range of companies in software, consumer electronics, computer games, video games and other markets.

The Company’s services include design, development and hosting of online stores and shopping carts, store merchandising and optimization, order management, denied parties screening, export controls and management, tax compliance and management, fraud management, digital product delivery via download, physical product fulfillment, subscription management, online marketing including e-mail marketing, management of affiliate programs, paid search programs, payment processing services, Website optimization, Web analytics and reporting, and compact disc (CD) production and delivery."

For more on this firm, we've posted up why Soros owns Comverse Technology.

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