At the end of the first quarter, the cybersecurity company had $776 million in cash, and no debt.
Israeli cybersecurity company CyberArk Software ) (Nasdaq: CYBR) stock rose 2% in the last two trading days after the company successfully completed a larger-than-expected convertible bond offering. For the first time since February, CyberArk’s share price closed above $400 over the weekend, giving the company led by CEO Matt Cohen- a market cap of $20.3 billion, making it Israel’s second most valuable company after Check Point Software Technologies Ltd. (Nasdaq: CHKP).
RELATED ARTICLES
$20b CyberArk becomes Israel’s second most valuable co
CyberArk buys US co Zilla Security, reports strong Q4
CyberArk to pay $1.45b for US co Venafi
CyberArk focuses on enterprise identity management. Last week, it announced plans to raise $750 million in convertible bonds at 0% interest. Ultimately, the debt raised amounted to $1.1 billion and could increase if investors choose to exercise an option to purchase additional bonds within 13 days. In total, the net funding amount will be about $1.072 billion or $1.219 billion if the option is exercised. CyberArk will use $96.8 million of the amount to execute capped call transactions designed to reduce dilution to shareholders.
The bonds that CyberArk is issuing are at 0% interest and are intended to mature in June 2030. The conversion price set is $509.84 per share, reflecting a 30% premium to the share price on Nasdaq on the day before the report. In the past year, CyberArk has made two acquisitions of US companies, paying $1.54 billion for Venafi and $165 million for Zilla Security. At the end of the first quarter, the company had $776 million in cash, and no debt. Since the beginning of the year, CyberArk shares have risen by 21.2%.
Published by Globes, Israel business news – en.globes.co.il – on June 8, 2025.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2025.
CyberArk CEO Matt Cohen and founder and executive chairman Ehud Mokady credit: PR
