03:45 AM EDT, 06/06/2025 (MT Newswires) -- CyberArk Software ( CYBR ) said late Thursday it priced its upsized $1.1 billion private offering of 0% convertible senior notes due June 15, 2030, to qualified institutional buyers.

The offering was upsized from $750 million of notes and is expected to settle on June 10, the company said.

Initial purchasers have been granted a 13-day option to buy up to an additional $150 million of the notes.

The company expects to raise roughly $1.07 billion from the offering, or $1.22 billion if the initial purchasers take up their additional note purchase option.

CyberArk intends to use about $96.8 million of the proceeds to pay the cost of the capped call transactions, with the remaining proceeds to be used for working capital or other general corporate purposes.