Etsy closes $700M convertible note offering; repurchases 2.5M shares for $150M

ETSY INC

Issued $700M aggregate principal of 1.00% Convertible Senior Notes due 2030; conversion price $85.79 (42.5% premium over June 11 close).
Net proceeds of ~$688.5M after underwriter discount and expenses.
Used $150M to repurchase ~2.5M shares at $60.20 per share in privately negotiated transactions.
Remaining proceeds earmarked for general corporate purposes including possible debt repayment or repurchase.
Notes are senior unsecured obligations; redeemable by Etsy on or after June 20, 2028 at 100% plus accrued interest.

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