The Israeli cyber-security company will issue $50 million in new shares with investors cashing in on $200 million of stock.
Israeli cyber security company CyberArk Software Inc.(Nasdaq:CYBR) has filed with the US Securities and Exchange Commission (SEC) to raise $250 million, in what will be its third public offering on Nasdaq. Only $50 million in new shares will be sold, with investors cashing in on $200 million worth of shares.
CyberArk focuses on protecting privileged accounts in data networks. The Petah Tikva based company raised $85.8 million in its IPO in September 2014 at a company value of $473 million. It then raised $200 million in a secondary offering in March 2015 at a market cap of $1.77 billion, and currently has a market cap of $1.9 billion, meaning the stock is up 289% since its IPO.
Earlier this month CyberArk reported first-quarter revenue of $32.9 million, up 89% on the corresponding quarter of 2014 and beating analyst estimates. EPS was $0.16 per share and the company raised its full-year outlook.
Published by Globes [online], Israel business news - www.globes-online.com - on May 31, 2015
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