Etsy Announces Proposed Private Offering of $650 Million of Convertible Senior Notes

Core Viewpoint - Etsy, Inc. plans to offer $650 million in convertible senior notes due 2030, with an option for initial purchasers to buy an additional $50 million, subject to market conditions [1][2] Group 1: Offering Details - The notes will be unsecured obligations of Etsy, accruing interest payable semiannually, and will be convertible into cash, shares of common stock, or a combination of both at Etsy's discretion [2] - Etsy expects to use up to $175 million of the net proceeds from the offering to repurchase its common stock, with the remainder allocated for general corporate purposes, including potential debt repayment [2][4] Group 2: Market Impact - The concurrent repurchase of shares may influence the market price of Etsy's common stock and the notes, potentially resulting in a higher effective conversion price for the notes [4] Group 3: Company Overview - Etsy operates two-sided online marketplaces connecting millions of buyers and sellers, with a mission to "Keep Commerce Human" [6] - The primary marketplace, Etsy.com, is known for unique and creative goods, while the company also owns the fashion resale marketplace Depop [7]