Connect with us

Technology

Wayfair Prices Offering of $700 Million Senior Secured Notes

Published

2 years ago

on

BOSTON, March 11, 2025 /PRNewswire/ — Wayfair Inc. (NYSE: W) (the “Company,” “we” or “Wayfair”) today announced the pricing by its subsidiary, Wayfair LLC (the “Issuer”), of its private offering of $700 million in aggregate principal amount of 7.750% senior secured notes due 2030 (the “Notes”). The Notes will mature on September 15, 2030, unless earlier repurchased or redeemed in accordance with their terms. The Notes offering is expected to close on March 13, 2025, subject to customary closing conditions.

We intend to use a portion of the net proceeds from the Notes offering to purchase approximately $580 million aggregate principal amount of our outstanding 1.00% convertible senior notes due 2026 (the “2026 Notes”) from certain investors that agreed to sell us such 2026 Notes concurrent with the pricing of the Notes offering. We intend to use the remainder of the net proceeds for general corporate purposes, which may include the repayment or repurchase of existing indebtedness including our outstanding 0.625% convertible senior notes due 2025 (the “2025 Notes”) or additional 2026 Notes. We expect that certain holders of the 2025 Notes or 2026 Notes that we purchase who have hedged their equity price risk with respect to such 2025 Notes or 2026 Notes will unwind all or part of their hedge positions by buying our Class A common stock or entering into or unwinding various derivative transactions with respect to our Class A common stock. As a result, our anticipated purchases of 2025 Notes and 2026 Notes and the potential related market activities by holders of such repurchased 2025 Notes or 2026 Notes could increase (or reduce the size of any decrease in) the market price of our Class A common stock. The Notes will be fully and unconditionally guaranteed, jointly and severally, on a senior secured basis by Wayfair and certain Wayfair domestic subsidiaries that guarantee the Issuer’s senior secured revolving credit facility and existing senior secured notes. The Notes and related guarantees will be secured on a first-priority basis by liens on the same assets that secure the Issuer’s senior secured revolving credit facility and existing senior secured notes.

Substantially concurrently with the issuance of the notes, we intend to enter into an amended and restated credit agreement (the “Amended and Restated Credit Agreement”) to, among other things, establish a new credit facility, which we expect will (x) extend the maturity of the credit facilities to 2030 (subject to a springing maturity in certain circumstances) and (y) provide for commitments in an aggregate amount equal to $500.0 million. Syndication efforts to arrange the Amended and Restated Credit Agreement were successful.

The Notes and related guarantees have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. The Notes are being offered only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act and to non-U.S. persons in accordance with Regulation S under the Securities Act.

This press release is for informational purposes only and shall not constitute an offer to sell or a solicitation of an offer to buy any securities. Any offer of the Notes and related guarantees is not being made to any person in any jurisdiction in which the offer, solicitation or sale is unlawful. This press release also shall not constitute an offer to purchase, a solicitation of an offer to sell, or notice of redemption with respect to any of Wayfair’s outstanding convertible notes.

About Wayfair
Wayfair is the destination for all things home, and we make it easy to create a home that is just right for you. Whether you’re looking for that perfect piece or redesigning your entire space, Wayfair offers quality finds for every style and budget, and a seamless experience from inspiration to installation.

The Wayfair family of brands includes:

Wayfair: Every style. Every home.AllModern: Modern made simple.Birch Lane: Classic style for joyful living.Joss & Main: The ultimate style edit for home.Perigold: The destination for luxury home.Wayfair Professional: A one-stop Pro shop.

Wayfair generated $11.9 billion in net revenue for the year ended December 31, 2024 and is headquartered in Boston, Massachusetts with global operations.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of federal and state securities laws. All statements other than statements of historical fact contained in this press release, including statements regarding the terms of the Notes; the anticipated use of the net proceeds from the offering of the Notes; the expected closing of the Notes offering; and expectations regarding the repayment of Wayfair’s outstanding convertible notes; whether we will enter into the Amended and Restated Credit Agreement; and expectations regarding the Amended and Restated Credit Agreement, are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “continues,” “could,” “intends,” “goals,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” or the negative of these terms or other similar expressions. Forward-looking statements are based on current expectations of future events. We cannot guarantee that any forward-looking statement will be accurate, although we believe that we have been reasonable in our expectations and assumptions. Investors should realize that if underlying assumptions prove inaccurate or that known or unknown risks or uncertainties materialize, actual results could vary materially from our expectations and projections. Investors are therefore cautioned not to place undue reliance on any forward-looking statements. We believe that these risks and uncertainties include, but are not limited to, adverse macroeconomic conditions, including economic instability, changes in tax laws, regulations and new or increased tariffs, including based on the recent U.S. presidential election, export controls, sustained higher interest rates, inflation, slower growth or the potential for recession, disruptions in the global supply chain and other conditions affecting the retail environment for products we sell, and other matters that influence consumer spending and preferences, as well as our ability to plan for and respond to the impact of these conditions; our ability to acquire and retain customers in a cost-effective manner; our ability to increase our net revenue per active customer; our ability to build and maintain strong brands; our ability to manage our growth initiatives; and our ability to expand our business and compete successfully. A further list and description of risks, uncertainties and other factors that could cause or contribute to differences in our future results include the cautionary statements herein and in our most recent Annual Report on Form 10-K and in our other filings and reports with the Securities and Exchange Commission. We qualify all of our forward-looking statements by these cautionary statements. These forward-looking statements speak only as of the date of this press release and, except as required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events or otherwise.

Media Relations Contact:
Tara Lambropoulos
PR@Wayfair.com

Investor Relations Contact:
James Lamb
IR@wayfair.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/wayfair-prices-offering-of-700-million-senior-secured-notes-302397834.html

SOURCE Wayfair Inc.

Related Topics:
Continue Reading

Technology

Notari launches Founder Edition N1 Pro AI Notetaker, an AI notetaking system that makes the transcript a starting point for deeper thinking

Published

51 minutes ago

on

October 27, 2026

By

Founded by Keychron Co-Founder Paul Tan, Notari pairs a sleek recording device with an AI workspace that helps users question, develop and act on what they capture

AUSTIN, Texas, Oct. 27, 2026 /PRNewswire-PRWeb/ — Today, Notari launched direct-to-consumer sales for N1 Pro AI Notetaker, an AI notetaking system designed to function as a thinking partner for conversations, meetings and personal ideas. The system consists of two components: a credit-card-sized recorder and an AI-powered app. The Founder Edition is available through an early-access program at notarilabs.com for a limited-time introductory price of $129.99 USD (MSRP $189 USD) in the United States and U.S. territories, with additional countries planned.

Our goal at Notari is to bring transcription capabilities to more people and organizations, giving them an easier, more customizable way to connect real-world information with their own AI.

At just 0.17″ (4.4 mm) thick, the N1 Pro AI Notetaker recorder is a device that attaches magnetically to the back of a smartphone and captures conversations, meetings, lectures and thoughts at the press of a button. Recordings are stored locally, and a built-in contact microphone can capture the other side of phone calls without requiring speaker mode. The Notari AI Notetaker software turns recordings into searchable transcripts and structured summaries, then provides an AI workspace where users can question the material, develop ideas and decide what comes next.

How N1 Pro AI Notetaker extends beyond the transcript

While many AI notetakers can reduce the work involved in recording, transcribing and summarizing conversations, N1 Pro AI Notetaker is designed to help users continue working with that information.

Key capabilities of the system include:

Record locally before deciding what to process: The recorder includes 32GB of local storage and does not require an internet connection while recording. Users always choose which files to transfer for transcription and AI processing in the app.Capture virtual meetings without a bot: Desktop recording captures system audio and in-person sound without requiring a bot to join the call.Move from recording to structured information: The app distinguishes between different speakers and turns recordings into searchable transcripts and structured summaries that users can correct and edit.Ask questions and develop ideas: Users can query captured material to retrieve details, identify unresolved issues and examine alternative perspectives, then use AI to develop what they learn further.Choose between multiple AI models: Users can select ChatGPT, Gemini or Grok through integrations managed by Notari.Option to use the software without the hardware: Notari AI Notetaker can be used independently of the recording device, with recording handled in-app.

“Our goal at Notari is to bring transcription capabilities to more people and organizations, giving them an easier, more customizable way to connect real-world information with their own AI,” said Paul Tan, Founder and CEO of Notari, Co-Founder and former COO of Keychron. “That connection gives AI the context it needs to better support us.”

A personal knowledge system built around user-controlled information

The recording device measures 3.58″ × 2.32″ × 0.17″ and weighs just 54.8g. Four MEMS microphones capture ambient audio, with best recording performance within five metres and recording at distances of up to nine metres under suitable indoor conditions. A 660 mAh battery supports up to 40 hours of continuous recording and up to 60 days of standby time, with approximately two hours required for USB-C charging. Available in Space Black and Silver, the device includes a magnetic adapter ring, USB-C charging cable and one-year limited warranty. A built-in screen indicates when recording is active.

Notari AI Notetaker is available via iOS mobile app (Android coming in November) and web browser, with dedicated desktop apps planned.

The Founder Edition N1 Pro AI Notetaker recorder includes unlimited free standard-model transcription for life on recordings made directly with the device, one complimentary month of the Pro Plan, and access to the Founder Community, where early customers can suggest ideas, provide feedback and vote on future features. With its core features in place at launch, N1 Pro AI Notetaker will continue to evolve through additional features and improvements planned for upcoming releases.

Free and paid subscription plans are also available, including the Plus Plan ($14.99 USD per month) with 2,000 credits for advanced transcription models, and the Pro Plan ($29.99 USD per month), which includes unlimited standard-model transcription and 4,000 advanced-model credits. Files selected for transcription and AI processing are uploaded to Notari’s AWS cloud infrastructure, where data is encrypted in transit and at rest. Users can delete individual recordings and other content from Notari’s servers, and user data is not used to train AI models.

“Too many products are built around restrictions,” continued Tan. “We created Notari to give users the most freedom in how they record, transcribe and work with AI so they can spend less time navigating limitations and more time making better decisions and doing better work.”

Media wishing to interview Notari personnel should contact PR agent Borjana Slipicevic at Proper Propaganda.

About Notari

Notari builds connected hardware and software tools that help people capture information, think clearly and develop ideas over time. Founded by Paul Tan, Co-Founder and former COO of Keychron, where he led product design and innovation, Notari brings together a multidisciplinary team of engineers, designers, writers, developers and thinkers. With backgrounds spanning product design, filmmaking and software development, the team draws on its own experience creating and building products to develop the next generation of notetaking and document tools for capturing information, developing ideas and supporting creative work.

Media Contact

Borjana Slipicevic, Proper Propaganda, 1 7788582595, borjana@properpropaganda.net, properpropaganda.net

View original content to download multimedia:https://www.prweb.com/releases/notari-launches-founder-edition-n1-pro-ai-notetaker-an-ai-notetaking-system-that-makes-the-transcript-a-starting-point-for-deeper-thinking-302920770.html

SOURCE Proper Propaganda

Continue Reading

Technology

Regional Center of Orange County Honors Business Champions for Employees with Developmental Disabilities

Published

51 minutes ago

on

October 27, 2026

By

SANTA ANA, Calif., Oct. 27, 2026 /PRNewswire/ — Regional Center of Orange County (RCOC) has honored the following seven Orange County businesses as champions for employees with developmental disabilities.

Discovery Cube (Santa Ana)
Grocery Outlet (Anaheim and Long Beach)
Lamppost Pizza (Orange)
Oakley (Irvine)
Heroes Hall – OC Fairgrounds & Event Center (Costa Mesa)
Provider Contract Food Services (Fullerton)
Walgreens (Anaheim)

Decades ago, few people with developmental disabilities were able to get paying work. Many who had jobs were employed in what were sometimes called “sheltered workshops.” These types of workplace settings (which are no longer eligible for Regional Center funding) included only adults with disabilities and were isolated from the broader community.

“Now we take for granted that people with disabilities can and should be able to work alongside coworkers without disabilities,” said RCOC Executive Director Larry Landauer. “But individuals we serve continue to face challenges, so it’s important for us to recognize role-model employers like our honorees who know the benefits of including people with developmental disabilities in their workforces.”

Several years ago, the RCOC Board of Directors adopted an Employment First policy that makes competitive integrated employment the first option for the working-age adults RCOC serves. This aligns with the state policy that also favors inclusive employment. Toward that end, RCOC and its network of service providers partner with businesses of all sizes, community organizations and government agencies throughout Orange County to identify job opportunities and then match individuals’ skills, talents, abilities and interests with the right job and the right employer.

The businesses honored at this event received certificates from the offices of Assemblymember Diane Dixon, Assemblymember Cottie Petrie-Norris and Assemblymember Avelino Valencia.

For more information on the advantages of hiring adults with disabilities, visit RCOC’s Employment First and RCOC’s Employment for People with Developmental Disabilities web pages.

About Regional Center of Orange County: Regional Center of Orange County is the private, nonprofit organization contracted by the State of California to coordinate lifelong services and supports for more than 29,000 Orange County residents with developmental disabilities and their families. The Regional Center is the first stop for those seeking to obtain local services and supports to help them live safely and with dignity in the community. Developmental disabilities include intellectual disabilities, autism, epilepsy and cerebral palsy. Learn more at www.rcocdd.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/regional-center-of-orange-county-honors-business-champions-for-employees-with-developmental-disabilities-302921098.html

SOURCE Regional Center of Orange County

Continue Reading

Technology

Dotwork Acquires Arcario Group to Accelerate Adoption of Its AI-Native Enterprise Operating Platform

Published

51 minutes ago

on

October 27, 2026

By

Acquisition adds forward-deployed expertise to connect strategy, capital, AI execution and measurable business outcomes.

GEORGETOWN, Texas, Oct. 27, 2026 /PRNewswire/ — Dotwork, an AI-native enterprise operating platform, today announced its acquisition of Arcario Group, a consultancy specializing in enterprise operating models and transformation. The transaction closed October 23. Financial terms were not disclosed.

AI is accelerating execution, but most enterprises still manage strategy, funding and work across disconnected systems. Leaders struggle to see what investments actually cost, whether they produce results and where resources should move next.

Dotwork is building the enterprise steering layer for the AI era. Its graph-based Enterprise Operating Model connects existing systems rather than replacing them, linking strategy, capital, business capabilities, work, decisions and outcomes. Unlike tools centered on projects or workflows, Dotwork focuses on the decisions that drive performance, connecting plans to actual spending, preserving decision context and giving leaders and AI agents a shared understanding of the enterprise.

Arcario brings the expertise to activate that model. Its Connected Enterprise approach aligns people, processes, data and technology, while forward-deployed enterprise value architects work alongside customers to solve targeted problems and measure results.

Together, the companies help enterprises:

Design: Identify gaps between strategic priorities, investments, business capabilities and execution.Activate: Connect existing financial and operational systems, then deploy targeted workflows and AI capabilities without replacing core technology.Steer: Track decisions, actual costs and outcomes, then adapt investments and execution as priorities change.

“The enterprise software industry has spent decades helping companies manage work, automate processes and analyze data. But who’s helping the CEO, COO, CFO and CIO actually steer the business?” said Steve Elliott, founder and CEO of Dotwork. “AI makes deciding where to invest and how to measure results more important than ever. We’re building Dotwork around those decisions—not another workflow or dashboard. Arcario brings the expertise to make that operating model real.”

Rather than requiring lengthy transformation programs or bespoke platforms, the combined teams can start with a high-value business problem, establish a reusable operating model and expand as results are demonstrated. Lessons from deployments will also inform repeatable Dotwork platform capabilities.

“Connecting enterprise strategy to what teams actually do has always been the hard part,” said Konstantin Popov, founder and CEO of Arcario Group. “With Dotwork, we can move beyond recommendations to connect decisions, investments and execution—and show customers the value they’re creating.”

Arcario’s leadership previously built an enterprise operating-model practice acquired by Cprime, where it scaled to support major enterprise transformations. Arcario becomes the foundation of Dotwork’s services and forward-deployed engineering organization. Existing client engagements continue with their current teams. Konstantin joins Dotwork as Head of Transformation Services.

Learn more at dotwork.com/post/welcome-arcario.

About Dotwork

Dotwork is an AI-native enterprise operating platform connecting strategy, capital, work and outcomes through a living, graph-based Enterprise Operating Model. Founded by Steve Elliott, former founder and CEO of AgileCraft (acquired by Atlassian), Dotwork is headquartered in Georgetown, Texas. Learn more at dotwork.com.

About Arcario Group

Arcario Group helps enterprises build the Connected Enterprise, aligning people, processes, data and technology to improve execution and business outcomes. Learn more at arcariogroup.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/dotwork-acquires-arcario-group-to-accelerate-adoption-of-its-ai-native-enterprise-operating-platform-302921095.html

SOURCE Dotwork

Continue Reading

Trending