04:08 AM EDT, 07/01/2025 (MT Newswires) -- Zscaler ( ZS ) said Tuesday it has priced a private offering to eligible purchasers of $1.5 billion principal amount of zero percent convertible senior notes due 2028.

The initial purchasers have been granted a 13-day option to purchase up to $225 million additional amount of notes.

The notes will be convertible at an initial rate of $439.52 per share.

Net proceeds, estimated to be about $1.48 billion to $1.7 billion, will be used to fund certain capped call transactions and for general corporate purposes, the company said.

Closing of the offering is expected on Thursday.