Varonis Systems falls on $350 mln convertible debt offering plans

Varonis Systems

05/09/2024 14:30

** Varonis Systems  VRNS.O  shares down 6.6% at $51.42
premarket as data security provider looks to raise capital
    ** Co says offering privately $350 mln 5-yr convertible
bonds
    ** It plans to use net proceeds for working capital and
general purposes, including R&D, capex, or for potential
acquisitions and investments in businesses
    ** Co has $6.2 bln market cap, per LSEG data
    ** Through Weds close, shares up ~22% YTD

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