** Esty's ETSY.O shares down 3.5% premarket to $59.64 as online marketplace seeks capital raise
** Brooklyn, New York-based firm offering privately $650 mln convertible bonds due 2030
** It plans to use up to $175 mln of net offering proceeds to repurchase shares in privately negotiated transactions with purchasers of the bonds
** Remainder of proceeds are for general purposes, including repayment or repurchase of existing debt, co says
** With ~104.3 mln shares outstanding, co has $6.4 bln market cap
** ETSY shares on Tues closed down 3.2% at $61.83, snapping a 10-session winning streak in which they racked up a 34% gain
** YTD, stock up 17%
** 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.