04:38 PM EST, 12/16/2024 (MT Newswires) -- Affirm Holdings ( AFRM ) said late Monday it plans to start a private offering of $750 million of convertible senior notes due 2029.

Initial purchasers will have a 13-day option to buy up to an additional $112.5 million notes, the company said.

Net proceeds from the offering will be used to repurchase a portion of its 0% convertible senior notes due 2026, repurchase up to $300 million class A shares, and general corporate purposes, Affirm added.

Shares of the company fell 2.7% in recent after-hours activity.

Price: 70.91, Change: -1.95, Percent Change: -2.67