WASHINGTON (dpa-AFX) - Zscaler, Inc. (ZS), an IT security company, said on Monday that it intends to offer $1.5 billion of aggregate principal amount of its convertible senior notes due 2028 in a private offering.
The company also intends to grant the initial purchasers of the notes a 13-day option to purchase up to an additional $225 million of notes.
Zscaler intends to use the net proceeds from the offering to pay the cost of the capped call transactions and general corporate purposes, which may include working capital, capital expenditures, potential acquisitions, and others.
ZS was down by 3.25 percent at $305.08 in the pre-market trade on the Nasdaq.
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