Etsy slips after announcing $650 mln convertible bond deal

Etsy

11/06/2025 12:35

** Esty's ETSY.O shares down 3.5% premarket to $59.64 as online marketplace seeks capital raise

** Brooklyn, New York-based firm offering privately $650 mln convertible bonds due 2030

** It plans to use up to $175 mln of net offering proceeds to repurchase shares in privately negotiated transactions with purchasers of the bonds

** Remainder of proceeds are for general purposes, including repayment or repurchase of existing debt, co says

** With ~104.3 mln shares outstanding, co has $6.4 bln market cap

** ETSY shares on Tues closed down 3.2% at $61.83, snapping a 10-session winning streak in which they racked up a 34% gain

** YTD, stock up 17%

** Of 34 analysts covering ETSY, recommendation breakdown is 9 "strong buy" or "buy", 20 "hold" and 5 "sell" ratings and median PT is $50, according to latest LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))