---
schema_version: "secwatch.filing_event.v1"
accession: "0001169561-25-000075"
form_type: "8-K"
ticker: "CVLT"
cik: "0001169561"
company_name: "COMMVAULT SYSTEMS INC"
filed_at: "2025-09-05T23:59:59+00:00"
generated_at: "2026-05-17T07:54:53.471095+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Commvault Issues $900M 0% Convertible Senior Notes Due 2030, Enters Capped Call Transactions

## Summary
- Issued $900M aggregate principal amount of 0% Convertible Senior Notes due 2030 on September 5, 2025, plus initial purchasers exercised option for additional $115M.
- Notes mature September 15, 2030, convertible at option of holders under certain conditions, with initial conversion price approximately $236.88 per share.
- Concurrently entered capped call transactions with affiliates of initial purchasers to reduce potential dilution upon conversion, with initial cap price of $357.56 per share.
- Notes are senior unsecured obligations, rank equally with existing senior unsecured debt, and structurally subordinated to subsidiary liabilities.
- Company may redeem notes on or after September 22, 2028 if stock price exceeds 130% of conversion price; holders may require repurchase upon fundamental change.

## SEC filing metadata
- accession: 0001169561-25-000075
- form_type: 8-K
- ticker: CVLT
- cik: 0001169561
- company_name: COMMVAULT SYSTEMS INC
- filed_at: 2025-09-05T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1169561/000116956125000075/0001169561-25-000075-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1169561/000116956125000075/cvlt-20250902.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001169561-25-000075
- JSON: https://secwatch.observer/filing/0001169561-25-000075.json
- Plain text: https://secwatch.observer/filing/0001169561-25-000075.txt

## Key facts
- Debt Financings
  COMMVAULT SYSTEMS INC incurred convertible notes of $900,000,000 (plus $115,000,000 exercised in full) with U.S. Bank Trust Company, National Association at 0% maturing September 15, 2030.
  - Instrument: convertible notes
  - Principal: $900,000,000 (plus $115,000,000 exercised in full)
  - Counterparty: U.S. Bank Trust Company, National Association
  - Rate: 0%
  - Maturity: September 15, 2030
  - Event: incurrence
  source text: On September 5, 2025, Commvault Systems, Inc. (the “Company”) issued $900,000,000 aggregate principal amount of 0% Convertible Senior Notes due 2030 (the “Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1169561/000116956125000075/0001169561-25-000075-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.