The net proceeds amount is after deducting the initial buyers' discount and estimated offering expenses.
The clothing brand licensing company said Wednesday that the size of the offering was increased to $350 million from $325 million. It is also giving the initial buyers of the notes a 30-day option to buy up to an additional $50 million notes to cover any excess demand. If the option is fully exercised, Iconix expects the offering's net proceeds to be approximately $391 million.
The New York company said that it anticipates using the net proceeds to buy back about 3 million shares for approximately $69 million; to fund the cost of a convertible note hedge transaction and warrant transaction and for general corporate purposes that may include investing in or buying new brands and additional stock buybacks.
The offering is expected to close on Monday.
Last month Iconix reported that its fourth-quarter adjusted profit beat Wall Street's expectations and the company raised its 2013 forecast.
Its shares rose 21 cents to $23.50 in premarket trading Wednesday. They are near the upper end of their 52-week range of $14.27 set last April to $24.92 reached almost a month ago.