Seeking Alpha

Palo Alto selling $500M in convertible debt

  • Palo Alto Networks (PANW) plans to sell $500M of convertible senior notes due 2019. Initial purchasers are expected to have a $75M overallotment option.
  • The next-gen firewall vendor had $572M in cash/investments as of April 30, and no debt.
  • Given the recent pace of M&A activity in the security hardware/software space, Palo Alto might be raising funds for an acquisition or two. The company spent $200M on Israeli cybersecurity startup Cyvera in March.
  • PANW -0.8% AH.
From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs