Bilibili (HKG:9626) is set to raise $90 million through the full exercise of an overallotment option linked to its recent $600 million convertible bond issue, a Friday filing with the Hong Kong bourse said.

The new notes share the same terms, with a 2030 maturity and a conversion price of HK$185.63 per Class Z share.

If fully converted, the optional notes would add about 3.8 million shares, bringing the total potential dilution to 7% of outstanding share capital.

Additional net proceeds of $88.7 million will be used to boost content, IP development, monetization, and fund share repurchases.

Shares of the entertainment company were up nearly 4% in recent trade.