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Wayfair Inc . (NYSE:W), currently valued at $9.89 billion in market capitalization, announced Wednesday it has repurchased approximately $101 million in principal amount of its outstanding 3.50% Convertible Senior Notes due 2028. The transaction was completed for about $199 million plus accrued but unpaid interest through privately negotiated agreements, according to a press release statement submitted to the Securities and Exchange Commission. According to InvestingPro data, the company operates with a moderate debt level of $3.91 billion.
Settlement of the repurchase is expected Thursday. After this transaction, Wayfair will have approximately $589 million in aggregate principal amount of the 2028 Notes remaining outstanding.
The company stated that this transaction is part of its ongoing liability management strategy, with the stated aim of reducing upcoming maturities and managing potential dilution associated with its convertible debt.
Wayfair indicated that it may continue to consider retiring, restructuring, repurchasing, or redeeming its outstanding convertible debt in the future. Such actions could be conducted through cash purchases, stock buybacks, or exchanges for equity or debt, either in open-market purchases or privately negotiated transactions. The company noted that the terms, prices, and sizes of any future transactions will depend on market conditions, liquidity requirements, contractual restrictions, and other factors. The company also stated that the amounts involved may be material.
Wayfair cautioned that additional repurchases or liability management activities could impact the trading liquidity of its outstanding convertible notes and may affect the market price of its common stock.
This information is based on a statement filed with the Securities and Exchange Commission.
In other recent news, Wayfair has reported significant developments that have caught the attention of various analyst firms. The company delivered a strong performance in its second-quarter results for 2025, with a 6% revenue growth excluding Germany and a 6.3% adjusted EBITDA margin, as noted by Evercore ISI. This performance led Evercore ISI to raise its price target for Wayfair to $85, maintaining an Outperform rating. Similarly, Truist Securities noted Wayfair’s strongest growth and margins since fiscal year 2021 and adjusted its price target to $80, while maintaining a Hold rating.
RBC Capital also responded to Wayfair’s better-than-expected second-quarter performance by increasing its price target to $51 and adjusting its third-quarter revenue estimate to a 4% growth. Bernstein SocGen highlighted Wayfair’s solid second-quarter performance, with revenue exceeding expectations and driving a price target increase to $70, while maintaining a Market Perform rating. Jefferies, analyzing consumer value perception improvements, raised its price target for Wayfair to $91 and maintained a Buy rating. These recent developments underscore the varied but optimistic outlook among analysts for Wayfair’s stock.
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