: Wayfair stock falls after convertible note offering announced


Wayfair Inc. W shares fell in the extended session Monday after the online furniture retailer said it planned to raise more than half a billion dollars issuing convertible notes. Wayfair shares fell more than 7.5% after hours, following a 0.6% decline to close the regular session at $39.97. The company said it was issuing $600 million in convertible senior notes due 2028, and that the “final terms of the notes, including the initial conversion rate, interest rate and certain other terms, will be determined at the time of pricing.” Wayfair said the notes would bear interest semi-annually. Last week, Wayfair shares posted…

This article was originally published by Marketwatch.com. Read the original article here.

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