Varonis Systems To Offer $350 Mln Senior Notes, Stock Down In Pre-Market
(RTTNews) - Varonis Systems, Inc. (VRNS), a software company, announced on Thursday that it intends to offer $350 million of convertible senior notes due 2029 in a private offering.
The company also expects to grant initial buyers a 13-day option to purchase up to an additional $52.5 million of notes.
Varonis intends to use the net proceeds from the offering for working capital and general corporate purposes.
The company may also use a portion of the net proceeds to acquire or make investments in businesses, products, offerings, and technologies.
VRNS was trading down by 4.09 percent at $52.80 in the pre-market trade on the Nasdaq.
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.