** Shares of online marketplace Esty ETSY.O down 0.6% premarket to $59.81 after co clinches capital raise
** Brooklyn, New York-based firm early Thurs announces pricing $650 mln 1% 5-yr convertible bonds offering
** Initial conversion price set at $85.79, 42.5% above stock's last close
** Co plans to use net proceeds for general purposes, including repayment or repurchase of existing debt
** It will also use ~$150 mln of proceeds to repurchase its shares in privately negotiated transactions
** Co has $6.3 bln market cap
** ETSY shares on Weds lost 2.6% and have fallen two straight sessions. That followed a 10-session winning streak in which the shares notched a 34% gain
** Through Weds, stock up 14% YTD
** Of 34 analysts covering ETSY, recommendation breakdown is 9 "strong buy" or "buy", 20 "hold" and 5 "sell" ratings and median PT is $50, according to latest LSEG data
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.