Etsy Inc. has announced a proposed private offering of $650 million in convertible senior notes due 2030, targeting qualified institutional buyers. The company also plans to give initial purchasers an option to buy an additional $50 million in notes. Etsy intends to use up to $175 million of the proceeds to repurchase its common stock, with the remaining funds allocated for general corporate purposes, potentially including the repayment of existing debt. The notes, which will accrue interest payable semiannually, can be converted into cash, Etsy's common stock, or a combination of both, at the company's discretion.
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