08:05 AM EDT, 09/05/2024 (MT Newswires) -- Varonis Systems ( VRNS ) said Thursday that it plans to offer $350 million of convertible senior unsecured notes due 2029 in a private offering.

Initial purchasers will have a 13-day option to buy up to an additional $52.5 million of notes, the company said.

Net proceeds will be used to acquire or make investments in businesses, products, offerings and technologies, to pay the cost of certain capped call transactions, and for working capital and general corporate purposes, the company said.

Varonis ( VRNS ) shares were down by nearly 4% in recent premarket activity.

Price: 52.80, Change: -2.25, Percent Change: -4.09