09:00 AM EDT, 06/11/2025 (MT Newswires) -- Etsy ( ETSY ) said Wednesday it is placing a private offering of $650 million of convertible senior notes due 2030.

The online arts and crafts marketplace also said it intends to grant the initial purchasers of the notes a 13-day option to purchase up to $50 million in additional notes.

The company said it expects to use up to $175 million of the net proceeds for a share buyback and the remainder for general corporate purposes.

Shares of the company were down 3.5% in recent premarket activity.