Zscaler prices $1.725B zero-coupon convertible notes; conversion premium 40% at $439.52

Zscaler, Inc.

Issued $1.725B aggregate principal amount of 0.00% Convertible Senior Notes due 2028.
Conversion rate is 2.2752 shares per $1,000 principal; initial conversion price ~$439.52 (40% premium).
Net proceeds ~$1.70B; used $197M for capped calls; remainder for general corporate purposes, including M&A.
Capped call transactions entered to reduce dilution; cap price $784.85/share (150% premium).
Notes mature July 15, 2028; no regular interest; convertible under certain conditions; not redeemable by Zscaler.

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