With the CMA clearance obtained and a firm closing date set for July 30, the likelihood of the Depop sale closing is very high. The elevated $158M reverse termination fee after July 15 further protects Etsy. Traders should monitor for the closing announcement and any potential last-minute issues, but the risk of deal failure is now minimal.
Price Chart
Executive Summary
Etsy and eBay entered a Second Amendment to the Depop sale agreement after the UK CMA cleared the transaction on July 15, 2026. The parties now expect the deal to close on July 30, 2026. The amendment fixes the closing date, adjusts the business disruption fee (reverse termination fee) to $68M or $158M depending on termination date, and shifts purchase price measurement to a Lockbox Date of July 17, 2026, with eBay paying interest on the closing price from that date.
Key Financial Metrics
Key Facts
- UK Competition and Markets Authority (CMA) cleared the Depop acquisition on July 15, 2026.
- Expected closing date: July 30, 2026.
- Business disruption fee reset: $68M if terminated after June 30 but on or before July 15, 2026; $158M if terminated after July 15, 2026.
- Purchase price adjustment items measured as of Lockbox Date (July 17, 2026) instead of closing date.
- eBay will pay interest on the Closing Purchase Price at SOFR + 0.40% per annum from Lockbox Date through closing.
Financial Impact
Sale of Depop subsidiary; deal value not disclosed in this filing. Termination fee provisions increased to $158M after July 15, providing strong deal protection for Etsy.
Risk Factors
- Potential delay in closing if any remaining conditions are not satisfied.
- General market or regulatory changes could still impact the transaction.
- The deal value is undisclosed, so the financial impact on Etsy's balance sheet is uncertain.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001370637-26-000066 |
| Document: etsy-20260712.htm | 0001370637-26-000066 |
| Document: 0001370637-26-000066-index-headers.html | 0001370637-26-000066 |
| Document: 0001370637-26-000066-index.html | 0001370637-26-000066 |
| Document: 0001370637-26-000066.txt | 0001370637-26-000066 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 3, 2026 28d ago | Insider Cluster | $76.51 $74.46 | ▼ −2.68% | ▼ −1.47% | $72.69 (−4.99%) |
Aug 19, 2026 6w ago | Insider Cluster | $81.21 $82.94 | ▲ +2.13% | ▲ +1.02% | $72.69 (−10.49%) |
Aug 19, 2026 6w ago | Insider Cluster | $81.21 $82.94 | ▲ +2.13% | ▲ +1.02% | $72.69 (−10.49%) |
Aug 12, 2026 7w ago | Insider Cluster | $79.63 $80.15 | ▲ +0.66% | ▲ +1.10% | $72.69 (−8.72%) |
Aug 6, 2026 8w ago | Insider Cluster | $85.09 $79.90 | ▼ −6.10% | ▼ −6.50% | $72.69 (−14.58%) |
Aug 4, 2026 8w ago | Insider Cluster | $85.86 $79.63 | ▼ −7.26% | ▼ −7.61% | $72.69 (−15.34%) |
Aug 4, 2026 8w ago | 144 | $85.86 $79.63 | ▼ −7.26% | ▼ −7.61% | $72.69 (−15.34%) |
Jul 17, 2026 11w ago | Press Release | $84.10 $80.91 | ▼ −3.79% | ▼ −3.11% | $72.69 (−13.57%) |
Jul 17, 2026 11w ago | Insider Cluster | $84.10 $80.91 | ▲ +3.79% | ▲ +3.11% | $72.69 (+13.57%) |
Jul 16, 2026 11w ago | 8-K | $83.48 $80.91 | ▼ −3.08% | ▼ −1.41% | $72.69 (−12.93%) |
US Market Status
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