BUZZ-Commvault Systems shares down on $750 mln convertible debt sale plans

Reuters

Sep 02

BUZZ-Commvault Systems shares down on $750 mln convertible debt sale plans

** Shares of cybersecurity co Commvault Systems CVLT.O down 2.3% at $182.31 before the bell after planned capital raise news

** Tinton Falls, New Jersey-based CVLT announces private offering of $750 mln 5-yr convertible bonds (CBs)

** Co says intends to use net proceeds for general purposes, which may include acquisitions or strategic investments in complementary businesses or technologies

** It also plans to use portion of proceeds to fund cost of capped calls, derivative tranactions employed to mitigate dilution, and up to about $125 mln to repurchase its stock from CB investors

** With ~44.5 mln shares outstanding, co has ~$8.3 bln market cap, per LSEG data

** Shares on Fri ended down 0.6% at $186.65. YTD, shares up ~24% vs 11% advance for the Nasdaq Composite .IXIC

** Of 12 analysts covering CVLT, 9 rate "strong buy" or "buy" and 3 rate "hold"; median PT is $213.50, LSEG data reflects

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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The views expressed are his own)</p><p>((lance.tupper@tr.com 1-646-279-6380))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0054578231.USD","symbol_name":"BGF SYSTEMATIC SUSTAINABLE GLOBAL SMALLCAP \"A2\" (USD) ACC","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250902:nL6N3UP0OB:1","article_id":"2564804285","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2564804285","pubTimestamp":1756814617,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"BUZZ-Commvault Systems shares down on $750 mln convertible debt sale plans** Shares of cybersecurity co Commvault Systems CVLT.O down 2.3% at $182.31 before the bell after planned capital raise news ** Tinton Falls, New Jersey-based CVLT announces private offering of $750 mln 5-yr convertible bonds ** Co says intends to use net proceeds for general purposes, which may include acquisitions or strategic investments in complementary businesses or technologies** It also plans to use portion of proceeds to fund cost of capped calls, derivative tranactions employed to mitigate dilution, and up to about $125 mln to repurchase its stock from CB investors** With ~44.5 mln shares outstanding, co has ~$8.3 bln market cap, per LSEG data** Shares on Fri ended down 0.6% at $186.65. 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YTD, shares up ~24% vs 11% advance for the Nasdaq Composite .IXIC** Of 12 analysts covering CVLT, 9 rate \"strong buy\" or \"buy\" and 3 rate \"hold\"; median PT is $213.50, LSEG data reflects(Lance Tupper is a Reuters market analyst. The views expressed are his own)((lance.tupper@tr.com 1-646-279-6380))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}