Cybersecurity co Tenable extends losses after increased $725 mln convertible offering

Tenable Holdings

11/09/2026 14:54

** Shares of cybersecurity exposure management firm Tenable Holdings TENB.O down 2.2% at $31.31 and falling for fifth straight session on Fri after co secures capital raise
** Columbia, Maryland-based TENB late Thurs announced pricing private offering of $725 mln 0.25% convertible bonds maturing on Sept 15, 2031
** Conversion price set at $44.84, a 40% premium to stock's last close of $32.03
** TENB shares finished down about 5% on Thurs after co unveiled $650 mln offering to repay term loans, and for general purposes, including additional share repurchases, acquisitions or investments
** Co intends to use approx $58.1 mln of net proceeds to fund cost of capped call transactions and repurchase up to $170.5 mln of its shares to help mitigate potential dilution
** Despite the decline, stock up ~33% YTD
** Avg rating of 23 analysts is "hold"; median PT of $35 unchanged from a month ago but up from $28 on Jun 11, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))