Etsy prices $650M convertible notes offering

June 12, 2025 03:43 AM PDT | By EODHD

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Etsy prices $650M convertible notes offering — Image source: Kalkine Media

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[Etsy IPO Opens On Nasdaq] Paul Zimmerman/Getty Images Entertainment Etsy (NASDAQ:ETSY [https://seekingalpha.com/symbol/ETSY]) has priced a private offering of $650M aggregate principal amount of 1.00% convertible senior notes due 2030. The notes will accrue interest payable semiannually at a rate of 1.00% per year. The company also granted the initial purchasers a 13-day option to purchase up to an additional $50M of the notes. The sale is expected to close on June 16, 2025, subject to customary closing conditions. The notes will mature on June 15, 2030, unless earlier converted, redeemed or repurchased.

The initial conversion rate will be 11.6570 shares of Etsy's common stock per $1,000 principal amount of notes (equivalent to an initial conversion price of approximately $85.79 per share). Etsy expects net proceeds of ~$639.3M, or ~$688.5M if the initial purchasers exercise their option to purchase additional notes in full. The company plans to use around $150M of the proceeds to repurchase shares of its common stock, and the remainder for general corporate purposes. MORE ON ETSY * Etsy: GMS Continues To Slide, But At Least Profits Are Firm [https://seekingalpha.com/article/4792617-etsy-gms-continues-to-slide-at-least-profits-firm] * Etsy: Backfired Monetization Has Created A Value Trap [https://seekingalpha.com/article/4791638-etsy-backfired-monetization-has-created-a-value-trap] * Etsy, Inc. (ETSY) Bernstein's 41st Annual Strategic Decisions Conference (Transcript) [https://seekingalpha.com/article/4790652-etsy-inc-etsy-bernsteins-41st-annual-strategic-decisions-conference-transcript] * Etsy drops ~4%, proposes $650M convertible senior notes [https://seekingalpha.com/news/4457168-etsy-drops-4-proposes-650m-convertible-senior-notes] * Perplexity enters commerce realm, utilizing Paypal for direct purchases within search [https://seekingalpha.com/news/4447870-perplexity-enters-commerce-realm-utilizing-paypal-for-direct-purchases-within-search]

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