Shutterfly, Inc. (SFLY) said Monday that it plans to offer $220 million aggregate principal amount of convertible senior notes due 2018 in a private offering to qualified institutional buyers.
The company also expects to grant the initial purchasers a 30-day option to purchase up to an additional $30 million aggregate principal amount of such notes.
The initial conversion rate, interest rate and certain other terms of the notes will be determined by negotiations between the company and the initial purchasers.
The company said it plans to use a portion of the net proceeds from the offering of the notes to fund acquisitions and other strategic transactions. The company also plans to use a portion of the net proceeds from the offering of the notes to pay the cost of certain convertible note hedge transactions, taking into account the proceeds to the company of certain warrant transactions and to repurchase up to $30 million of shares of its common stock in privately negotiated transactions, which could affect the market price of the Company's common stock concurrently with, or shortly after, the pricing of the notes, and could result in a higher effective conversion price for the notes.
The company expects to use the remainder of the net proceeds from the offering of the notes for general corporate purposes.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.