secwatch.observer — SEC 8-K summary
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Issuer:     VARONIS SYSTEMS INC (VRNS)
CIK:        0001361113
Form:       8-K
Filed at:   2024-09-10T23:59:59+00:00
Accession:  0001213900-24-077377
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Varonis issues $460M of 1.00% convertible notes due 2029; net proceeds $449.6M
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- $460M aggregate principal of 1.00% Convertible Senior Notes due Sept 2029; initial conversion price $67.83 per share.
- Net proceeds ~$449.6M after discounts; $55.5M used to pay cost of capped call transactions to reduce dilution.
- Proceeds for working capital and general corporate purposes, including R&D, capex, and potential acquisitions.
- Notes are unsecured, rank equal with existing 1.25% convertible notes due 2025; redeemable after Sept 2027 if stock >=130% of conversion price.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1361113/000121390024077377/0001213900-24-077377-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1361113/000121390024077377/ea0214060-8k_varonis.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-077377

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer