By Abigail W. Adams
Portland, Me., April 6 – Wayfair Inc. priced $535 million five-year convertible notes with a coupon of 2.5% and an initial conversion premium of 46% in a private placement, according to a company news release.
Private equity firms Great Hill Partners and Charlesbank Capital Partners led the transaction with Spruce House Partnership also participating.
Wayfair is a Boston-based e-commerce company.
| Issuer: | Wayfair Inc.
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| Securities: | Convertible notes
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| Amount: | $535 million
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| Maturity: | Five years
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| Coupon: | 2.5%
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| Conversion premium: | 46%
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| Conversion price: | $72.50
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| Distribution: | Private placement
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| Stock symbol: | NYSE: W
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| Stock reference price: | Average closing price over last 30 days
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| Market capitalization: | $6.44 billion
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