Shutterfly (SFLY) -2.2% AH after announcing a $220M offering of convertible senior notes due...

|By:, SA News Editor

Shutterfly (SFLY) -2.2% AH after announcing a $220M offering of convertible senior notes due 2018. The company says it plans to use some of the proceeds to fund "acquisitions and other strategic transactions." Shutterfly had $164M in cash and no debt on its balance sheet as of March 30. (PR)