secwatch.observer — SEC 8-K summary
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Issuer:     VARONIS SYSTEMS INC (VRNS)
CIK:        0001361113
Form:       8-K
Filed at:   2026-10-15T21:20:40+00:00
Accession:  0001213900-26-109901
Event type: m_and_a
Sentiment:  positive
Materiality: 1.00
Item codes: 1.01, 5.02, 7.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Varonis Systems to be acquired by Thoma Bravo-backed Proofpoint for $49.75 per share in cash
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- Varonis (VRNS) signed a Merger Agreement on Oct 15, 2026 with Proofpoint, Inc., a Thoma Bravo affiliate, and Vail Merger Sub, Inc.; each share converts to $49.75 cash.
- The Merger is expected to close in the first half of 2027; VRNS shares will be delisted from Nasdaq and deregistered under the Exchange Act.
- CEO Yaki Faitelson, who holds about 0.67% of shares, signed a Support Agreement to vote for the deal and will serve as a non-executive officer for 18 months after closing.
- Varonis would owe Parent a $211,700,000 termination fee; Parent would owe a $423,300,000 reverse termination fee, with an outside date of July 15, 2027.
- The Merger is a Make-Whole Fundamental Change under Varonis' 1.00% Convertible Senior Notes due 2029; Parent's obligations are not subject to a financing condition.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1361113/000121390026109901/0001213900-26-109901-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1361113/000121390026109901/ea0308610-8k_varonis.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-109901

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