Wayfair Inc. entered into a purchase agreement to sell $600 million aggregate principal amount of 3.50% Convertible Senior Notes due 2028, with an option for the initial purchasers to purchase an additional $90 million aggregate principal amount of notes. The sale closed on May 12, 2023, and the net proceeds were approximately $677 million. The company used a portion of the proceeds to repurchase some of its existing convertible notes and intends to use the remaining proceeds for working capital and general corporate purposes.