A10 Networks slides on planned $200 million convertible bond offering

A10 Networks' ATEN.N shares down 10.9% at $17.42 in extended trade

Network security firm offering $200 million of convertible bonds due 2030 in a private offering

Co plans to use up to about $44.2 million of the proceeds from the offering to repurchase shares concurrently with the pricing of the offering

Rest of the proceeds may be used for working capital and other general purposes, including potential future acquisitions

ATEN has ~74 million shares outstanding for a market cap of $1.45 billion — data compiled by LSEG

As of last close, ATEN stock up 6.3% YTD after jumping 39.7% in 2024