CyberArk Software steady after upsized $1.1 bln convertible bond sale

U.S.-listed shares of Israel-based CyberArk Software CYBR.O flat on light premarket volume after co raises more capital than targeted

Cybersecurity firm late Thurs announced pricing $1.1 bln 0% 5-yr convertible bond offering

Initial conversion price of $509.84 represents 30% premium to stock's last close

CYBR shares on Thurs slipped 0.9% to $392.18 after co launched $750 mln offering late Weds

Co intends to use $96.8 mln of net proceeds to pay for capped calls, derivative transactions employed to reduce potential dilution, remainder for working capital and other purposes

Through Thurs, CYBR shares up nearly 18% YTD and up 65% over the past 12 months

36 of 37 analysts covering CYBR rate stock "strong buy" or "buy", 1 rates "hold" with median PT of $440, latest LSEG data reflects