Varonis Systems announced that it priced a private offering of $400 million aggregate principal amount of 1.00% Convertible Senior Notes due 2029. The Notes will only be sold to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The offering size was increased from the previously announced offering size of $350 million aggregate principal amount of notes. The Company also granted to the initial purchasers of the Notes a 13-day option to purchase up to an additional $60 million aggregate principal amount of Notes. The sale is expected to close on September 10, 2024, subject to satisfaction of the conditions to closing.
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