CyberArk higher after raising $1.1b convertible bond

On the finish of the primary quarter, the cybersecurity firm had $776 million in money, and no debt.

Israeli cybersecurity firm CyberArk Software program ) (Nasdaq: CYBR) inventory rose 2% within the final two buying and selling days after the corporate efficiently accomplished a larger-than-expected convertible bond providing. For the primary time since February, CyberArk’s share value closed above $400 over the weekend, giving the corporate led by CEO Matt Cohen- a market cap of $20.3 billion, making it Israel’s second most dear firm after Test Level Software program Applied sciences Ltd. (Nasdaq: CHKP).

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CyberArk focuses on enterprise identification administration. Final week, it introduced plans to boost $750 million in convertible bonds at 0% curiosity. In the end, the debt raised amounted to $1.1 billion and will enhance if buyers select to train an choice to buy extra bonds inside 13 days. In complete, the online funding quantity will likely be about $1.072 billion or $1.219 billion if the choice is exercised. CyberArk will use $96.8 million of the quantity to execute capped name transactions designed to cut back dilution to shareholders.

The bonds that CyberArk is issuing are at 0% curiosity and are meant to mature in June 2030. The conversion value set is $509.84 per share, reflecting a 30% premium to the share value on Nasdaq on the day earlier than the report. Prior to now yr, CyberArk has made two acquisitions of US corporations, paying $1.54 billion for Venafi and $165 million for Zilla Safety. On the finish of the primary quarter, the corporate had $776 million in money, and no debt. For the reason that starting of the yr, CyberArk shares have risen by 21.2%.

Printed by Globes, Israel enterprise information – en.globes.co.il – on June 8, 2025.