said Thursday it is issuing $650 million in convertible debt and will use part of the proceeds to buy back its shares. The arts and crafts online marketplace said it has priced the notes, which mature in 2026, at 0.125%. The company is expecting to raise about $639.3 million in the offering and will use about $124.5 million for share buybacks. The remaining proceeds will be used for general corporate purposes, including further buybacks, product development, marketing and potential acquisitions. Shares were not active premarket, but have gained 25% in 2019, while the S&P 500
has gained about 20%.
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