CyberArk Software slips after $750 mln convertible bond sale unveiled

U.S.-listed shares of Israel-based CyberArk Software CYBR.O down 2.5% post-market to $385.90 as co looks to raise capital

Cybersecurity firm announces proposed private offering of $750 mln 0% 5-yr convertible bonds (CBs)

Co plans to use portion of net proceeds to pay for capped calls, derivative transactions employed to offset dilution, remainder for working capital and other purposes

CYBR shares on Weds rose 0.5% to close at $395.85, up 19% YTD

Co has ~50.3 mln shares outstanding for roughly $20 bln market cap, per LSEG data

37 of 38 analysts covering CYBR rate stock "strong buy" or "buy", 1 rates "hold" with median PT of $440