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Check Point Software Announces Pricing of Upsized Private Offering of $1.75 Billion of 0.00% Convertible Senior Notes due 2030
TEL AVIV, Israel, Dec. 03, 2025 (GLOBE NEWSWIRE) -- Check Point Software Technologies Ltd. (Nasdaq: CHKP), a pioneer and global leader of cyber security
About this update from Check Point Software Technologies Ltd.
[{"type":"text","content":"TEL AVIV, Israel, Dec. 03, 2025 (GLOBE NEWSWIRE) -- Check Point Software Technologies Ltd. (Nasdaq: CHKP), a pioneer and global leader of cyber security solutions, today announced the pricing of $1.75 billion aggregate principal amount of 0.00% Convertible Senior Notes due 2030 (the “Notes”) in a private offering (the “Offering”) to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The aggregate principal amount of the offering was increased from the previously announced offering size of $1.5 billion. In connection with the Offering, Check Point has granted the initial purchasers of the Notes an option to purchase, for settlement within a 13-day period beginning on, and including, the date on which the Notes are first issued, up to an additional $250 million aggregate principal amount of the Notes. The sale of the Notes to the initial purchasers is expected to settle on December 8, 2025, subject to customary closing conditions. When issued, the Notes will be senior unsecured obligations of Check Point. The Notes will not bear regular interest, and the principal amount will not accrete. The Notes will mature on December 15, 2030, unless earlier repurchased, redeemed or converted in accordance with their terms prior to such date. Check Point may redeem for cash (1) all of the Notes at any time on or prior to the 30th scheduled trading day immediately preceding the maturity date if certain tax-related events occur and (2) all or any portion (subject to certain limitations) of the Notes, at any time, and from time to time, on or after December 20, 2028, and on or before the 30th scheduled trading day immediately before the maturity date, at its option at any time and from time to time, if (i) the notes are freely tradable and (ii) the last reported sale price per share of Check Point’s ordinary shares has been at least 130% of the conversion price for a specified period of time and certain other conditions are satisfied. The redemption price will be equal to the principal amount of the Notes to be redeemed, plus any accrued and unpaid special interest, if any, to, but excluding, the redemption date. If the last reported sale price of Check Point’s ordinary shares on the trading day immediately preceding the business day immediately preceding December 15, 2028 is...