Etsy (ETSY) said Thursday it has priced $650 million of 1.00% convertible senior notes due 2030 in a private placement to qualified institutional buyers.
The notes offering is expected to close Monday.
The notes will be general unsecured obligations, and will accrue interest semiannually and are convertible into cash, common stock, or a combination, with an initial conversion price of $85.79 per share, a 42.5% premium over Etsy's June 11 stock price, the company said.
Etsy also said it may redeem the notes for cash starting June 2028 if its stock price exceeds 130% of the conversion price for a specified period, and holders can require repurchase under certain conditions.
Net proceeds are estimated at $639.3 million, with $150 million allocated to repurchase Etsy shares at $60.20 each, and the remainder for general corporate purposes, including potential debt repayment, Etsy said.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。