08:29 AM EDT, 06/12/2025 (MT Newswires) -- Etsy ( ETSY ) said Thursday it has priced $650 million of 1.00% convertible senior notes due 2030 in a private placement to qualified institutional buyers.

The notes offering is expected to close Monday.

The notes will be general unsecured obligations, and will accrue interest semiannually and are convertible into cash, common stock, or a combination, with an initial conversion price of $85.79 per share, a 42.5% premium over Etsy's ( ETSY ) June 11 stock price, the company said.

Etsy ( ETSY ) also said it may redeem the notes for cash starting June 2028 if its stock price exceeds 130% of the conversion price for a specified period, and holders can require repurchase under certain conditions.

Net proceeds are estimated at $639.3 million, with $150 million allocated to repurchase Etsy ( ETSY ) shares at $60.20 each, and the remainder for general corporate purposes, including potential debt repayment, Etsy ( ETSY ) said.